2018 Performance / Portfolio Review -13%, could be worse

As 2018 is almost over I think it’s time to review the portfolio and performance.

Overall result is -13%. Somewhat depends on calculations –  I use broker day end values.  so more or less… This can be compared to -9.7% FTSE all share (total return), far below my 30% target for the year.  Many ideas havent worked this year so what has saved me is profit which was really from 2017 and rolled over the year end in the calculation – particularly Tejoori.

Long term performance has been strong – still 7X up over the last 10 years – long term chart below:

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More Crypto – sold KR1 / direct holdings, shorting Tether

Exited all my crypto holdings gradually over the past month or two.  I was lucky enough to be able to sell quite big chunks in early January.  Some of these are up over 10X but they were only ever a very small portfolio weight.

There is too much froth / junk / fraud in the market and I dont see downwards trend reversing any time soon.  I think there needs to be a big clear out before we can get decent rises.

Kryptonite 1 – selling half, +156% & Other Crypto thoughts

Brief post sold half my Kryptonite 1, for a modest 156% gain.  I say modest as pretty much every crypto related co or asset has outperformed KR1 since I got in.

I am not happy with their continual sub-share price placements – good for their connected friends and management but not other shareholders such as myself.  This, however is an irritant / contributory factor rather than the reason I am selling.  I also looked at the polkadot investment that others seem to rate so highly and to me they have invested £1m in something with no clear way to get the money back.  It could be that I dont understand it, or that I do – and it wont make money.  It equally could be that it wont make money and will go up anyway – in a market like this it wouldn’t surprise me.

KR1 – Kryptonite 1 Good results re-entering

Got shaken out of my KR1 position by large falls in Krypto prices coupled with news China were restricting Crypto.

Bought back a 2.4% portfolio weight first thing this morning – this is nicely up already.  Not the smartest way to trade – going in and out of stuff like this at a 20% spread just makes market makers rich, even if you are trading profitably…

Exiting KR1 – 4.5p +15% – not enough upside

Exited KR1.  The price went up a bit from my entry at 3.75.  Coupled with this, the price of the underlying crypto fell quite a lot – 20-30% following China’s ban on ICO’s.  Nothing like good timing – and this was nothing like good timing….

This left it at a discount of about 10% at one point, so I wasnt inclined to hold.  There has also been quite a bit of selling of KR1 – today all trades were pretty much sells…

Kryptonite 1 (KR1)- Cryptocurrency Investment Trust?

Just put a small weight in the somewhat oddly named Kryptonite 1.

This is a very small (£3.4m) market cap company.  It invests in the blockchain ecosystem.

I am investing in this as tracking the current value of their holdings on http://www.coinmarketcap.com you can see that they are worth about double the existing market cap.