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Venture: Portfolio Update

Issue 70; Since the 2021 tech bubble, the small-cap indices are still underwater, although only slightly. The World Index has given up some ground this year, but it has still left the small-caps behind. US small-caps, measured by the Russell 2000, have dropped from being a leader to a laggard.

Buffett, Float, and Quality

Last weekend, Warren Buffett announced that he was stepping down from Berkshire Hathaway (BRK) after 55 years as CEO. Since 1987, $100 invested is now worth $25,000, which is five times more than the S&P 500. If you start the clock in 1970, which my chart won’

Venture: European Software

Issue 69; I have been following this company for several months. It is a growth stock that fell from grace after the 2021 tech bubble. Recent results suggest it is an excellent company, and too cheap.

Will Magnificent 7 Investors Shift to Bitcoin?

💡This issue covers Monero (XMR), Render Network (RENDER), and Ethena (ENA). ByteFolio Issue 157; There’s been a modest pullback, but it's still an uptrend for Bitcoin. This chart is rebased to 100, which shows the performance compared to the start date. The bullish point is that the

Venture: Japanese Industrial

Issue 68; With the recent market selloff, there are good companies trading at historically low levels. I highlight a large, high-tech, industrial company in Japan that doesn’t deserve to trade this cheaply.

Three Years Since BOLD’s IPO in Zurich

ByteTree BOLD Index Monthly Rebalancing Report; Following rebalancing on 30th April 2025, the new target weights for the BOLD Index are 28.1% Bitcoin and 71.9% Gold, a 2.4% increase for Bitcoin over the previous month. This is Bitcoin’s highest-ever target weight in the history of the

Ethena: Reinventing Stablecoins for a Smarter DeFi Future

Token Takeaway: ENA; Ethena is a decentralised stablecoin issuer built on Ethereum, designed to offer attractive savings yields on its digital dollar. Despite launching only recently, it has seen explosive growth, rapidly attracting significant liquidity. However, its swift rise and the nearly 20% APY offered on its stablecoin have given

The Certainty of Uncertainty

The Donald Trump presidency promised chaos, and on that front, he’s delivering. Since “Liberation Day,” global markets have seen turmoil: equities have tumbled, inflation expectations have surged, and the dollar's taken a dive. Trade talks with China resemble a test of endurance, not diplomacy, and investors now

The Passive Bubble

Trade in Soda; Passive investors are currently not passive at all; they are growth investors, and massively so. We are at one of those times in history when being a passive investor is a very bad idea. Passive investing, whereby you hold low-cost index funds, is an efficient way for

The Bitcoin Gap Widens

💡This issue covers Chainlink (LINK), Raydium (RAY), Render (RENDER), Pendle (PENDLE), and more. ByteFolio Issue 156; Bitcoin remains in an uptrend; it is looking good. Bitcoin ByteTrend Score 5 of 5 But the dollar has fallen by 10% this year, and that has weighed on the market. The same chart

BitDAQ All-Time High

💡This issue covers Sui (SUI), Curve Finance (CRV), and Ethereum (ETH). ByteFolio Issue 155; In a stunning turn of events, the price of Bitcoin has broken higher, and the ByteTrend score is back to a 5. The bull has returned. Bitcoin ByteTrend Score 5 of 5 Even better is that

Black Smoke, Gold, and Bitcoin

Trade in Whisky; I hope you had a good Easter break. If you were watching US markets on Monday, you may have been surprised by the market’s reaction to the Pope’s passing. Digging a little deeper, I discovered it was President Donald Trump who had branded the Federal

Q1 2025 Performance Review

As a matter of record, I publish performance data for the two portfolios in the Multi-Asset Investor, Whisky and Soda, for Q1 2025. With Trump’s tariffs announced on Thursday, 2 April, much has happened over the past two weeks, making Q1 a distant memory of market calm. Regardless, I

DataGroup SE (D6H) Bid

“Bidder intends to launch a public purchase offer for all outstanding shares of DATAGROUP at a price of EUR 54.00 per share in cash… The management board and the supervisory board of DATAGROUP, which have approved entering into the investment agreement today, support the Offer which they consider to