Friday, December 8

The Moby Offshore Fund: December Update

During our last update, we mentioned that Emerging Markets weren't having a great 2023 (up till September).

At the time, we noted that while valuations continued to drop,  the fundamentals of some companies still remained strong. And therefore our AI felt that it was an appropriate time to start "bargain hunting" -- aka re-balancing the portfolio to invest in stocks that were unfairly sold off even though they still had strong fundamentals and growth opportunities ahead.

Well fast forward a few months later and it looks like the strategy has delivered on its short-term promise! That's because during this period, the portfolio was up 4.8% while the index was up only 1.4%.

Now let's just get something quickly out of the way. While we love seeing over triple the benchmarks return in such a short time period, we're not solely aiming for short-term wins. Our goal is to beat the index on a risk-adjusted basis over the long run.

What we mean by that is just because something is up in the short run doesn't mean it'll persist in the long run. Similarly, just because a stock is down over a small amount of time, does not mean it's still not a great investment in the long run.

That's why while many will have you believe short-term wins are great, and they definitely are to some extent, that's not the mark of a superior investor. Our goal is to help you out-return the index while taking on less risk over a multi-year period.

So with that context, out of the way, let's dive into the performance, the new trades, and an update.

However, if you're new to this strategy and want to see how it works, we highly recommend checking it out: here

But if you're a regular, let's dive straight into it 👇

Performance Review:

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