Looks like I was right about the brexit vote – very glad I put the Hedging FTSE250 trade on last night.
Wished I had put on more – it was a damn good trade, many ways to play – buy gold, currency trade. Often how I do it, I am just not aggressive enough!
I didn’t believe my portfolio or the markets generally would behave as they have – Japan was down 8% !
FTSE 250 down 8.2% as of writing.
I have exited Stanley Gibbons, and most of Vertu. I have also exited a good bit of Tribal (at an awful price) and some SIHL.
This puts me to a position of c25%+ cash and a FTSE250 short covering 25% of the remaining portfolio.
I am down 4% on the day in GBP so it could be much worse – though if you value the portfolio in USD or EUR I am down probably over 10%.
Key question now is how long do I stay out and when / if I go back in… Put in a small Eurostox long – I dont think Brexit means the 50 biggest Euro stocks are worth 9% less than yesterday
I am concerned I don’t sell out relatively low then end up buying in higher, equally I dont want to sit out a long / slow fall in prices…
I think on balance I should have probably not sold some things I sold but then equally I am not convinced this is the bottom.
SGI – 36% loss, VTU – 16% loss.