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May Market Review

The ASX 200 sold off nearly -4% in May.  Investing in early-stage illiquid companies isn’t always smooth, our two main core holdings were under pressure, with another write-down in one of the unlisted investments.  The result of -8.4% will no doubt be confronting to most, but we continue to hold these names and I’ll outline […]

April Market Review

The Equity Fund Managed Fund

A reasonably quiet month in terms of index moves after several weeks of sideways consolidation, with the ASX 200 finishing up 2.1%.  April was earnings season for the US, and was largely better than expected, although most companies had set very low bars to beat. Deteriorating data and a looming crunch suggest limited upside for […]

March Market Review

Gleneagle Equity Fund Report March

Rising interest rates finally saw things break in March, with the demise of Silicon Valley Bank and Credit Suisse. Only after the Fed backstopped the entire deposits of all banks did markets recover, with the ASX200 managing to close in the green up just 0.39%. The portfolio was down -3.15%, although we were largely on […]

February Market Review

The Equity Fund Managed Fund

February markets were weaker, with the ASX 200 losing -4.6%, the S&P 500 down -2.6% and the Nasdaq down -0.5%.  The portfolio ended down -2.75%, partly the result of one of the unlisted positions, Yumble, going into administration costing the portfolio ~4%.   This was a position I inherited on taking over the fund, and, unfortunately, […]

SVB Financial Group shares plunge

Gleneagle Market Insights

Wall Street’s three major stock indexes closed lower on Thursday, with bank stocks creating the biggest drag while investors also worried that Friday’s jobs report could spur more aggressive interest rate hikes from the Federal Reserve. The S&P 500’s bank index finished down 6.6% after hitting its lowest level since mid-October. Investors fled the sector after tech-industry […]

January Market Review

January saw markets rebound strongly, with the ASX 200 up 6.9%, the S&P 500 up 6.2% and the Nasdaq up 10.6%.   After such a poor finish to the end of 2022, we were positioned much more defensively and thus did not participate in the full extent of the rally. The portfolio, however, still finished up […]

Tech-heavy Nasdaq leading the pack

Market Insights Tech-heavy Nasdaq leading the pack copy

Wall Street closed higher on Monday, fueled by surging technology stocks as investors began an earnings-heavy week with a renewed enthusiasm for market-leading momentum stocks that were battered last year. All three major stock indexes extended Friday’s gains, with the tech-heavy Nasdaq leading the pack, boosted by semiconductor shares. The Philadelphia SE semiconductor index jumped 5.0%, […]

December Market Review

A very poor finish to the year in markets with the Nasdaq down 9%, S&P 500 down 5.4% and the ASX 200 down over 4%. The late Santa rally, which normally kicks in about the 3rd week of December, did not eventuate, and unfortunately, the portfolio suffered ending down 7.1% for the month. However, for […]

November Market Review

Another flat month for the portfolio, and as we get to the end of 2022, I believe most market participants will be happy to see this year out, as it’s been one of the most challenging investment environments since the GFC. Since the start of the year: the Nasdaq is down ~30%, SPX is down […]

October Market Review

October was a better month for equity markets. The US SP500 was up 7.9%, the tech heavy Nasdaq up 4.0%, and our local ASX200 was up 5.9%.  While the overall market was stronger, our portfolio only managed a gain of 0.5% which was a little disappointing. In last month’s newsletter, I’d actually stated it was […]

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