Friday’s Shakeup and Taking Profits
A lot has happened this week with President Trump threatening to hike tariffs on China. It has led me to reduce risks in the portfolio, to take the edge off, and lock in some profits.
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The Real Willy Wonka
After a period of rapidly rising costs, the situation appears to have stabilised, and the chocolate industry is adapting to a new normal. I sense an opportunity.
ByteTree Quarterly Investor Letter - Q3 2025
In this Q3 2025 update, I shall review the model portfolios, named Whisky and Soda, which I have been managing since February 2016. I shall also touch on our other services.
What’s Gold Really Telling Us?
One of the mysteries of this equity bull market is its drivers. The consumer is weak, wages are softening, house prices have peaked, industrial demand remains slack, and global logistics have slowed.
Finding the Safe Havens
I am most pleased that both the Whisky and Soda Portfolios have had a good year without chasing the high-risk investments that are driving this market.
Trust the Rothschilds
It’s interest rate week, with the US Federal Reserve showing their hand tomorrow. The Bank of England then moves on Thursday, and the Bank of Japan on Friday.