The portfolio fell +xx% over the past week while cash remains at 15% affording us some flexibility to accumulate stocks into any weakness. We enjoyed standout performances by China facing Tencent (700 HK) +8.6% and JD.Com (JD US) +16.1% while our BHP position in London was not surprisingly the main casualty over the week.
The portfolio fell -2.69% over the past week while cash now sits at 15% affording us some flexibility to accumulate stocks into any weakness. It was a tough time for a few of our holdings with Trade Desk Inc (TTD US), Alibaba (BABA US) and JD.com (JD US) all dropping by ~10% with 2 out of the 3 showing recent aversion to China since the tightened regulations is far from over.
We are up almost 90% on our Samsung position but as we have said previously MM doesn’t believe in adding to positions just to average the entry level lower, if we believe a stocks going higher and the risk / reward looks good why not buy more.
Samsung Electronics (005930 KS) manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.