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International Equities Portfolio

The Market Matters International Equities Portfolio is a high conviction direct international equities portfolio that targets well known global brands – Click here to view

Our International portfolio was up +4.44% last week while cash remains at 9%. We enjoyed strong performances from Trade Desk (TTD US) + Shopify (SHOP US) and it would have been a whopping 6.03% gain if it hadn’t been for currency headwinds i.e. a rising Australian Dollar.

As we’ve mentioned previously this is arguably our portfolio which is least aligned to our medium-term view that value stocks will outperform growth into 2022 plus our cash position is on the high side considering our bullish view. That said, markets have probably already followed over 50% of the journey down our anticipated path hence caution is required with chasing this stance right now. For that reason we are reviewing 3 potential tweaks:

  • Buy Freeport-McMoRan (FCX US) – this is one international resources business we still really like at current levels seeing 25-30% upside short-term.
  • Buy Netflix (NFLX US) – this is trading at fresh all-time highs but as the business evolves we now believe the company can outperform over many years to come.
  • Sell PayPal (PYPL US) – arguably our weakest position in the portfolio and we are considering taking a 5-6% loss with both of the above 2 stocks in our opinion offering better upside
MM is looking to realign further toward our core view (s) into 2022
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Freeport-McMoRan Inc (FCX US)
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