By all means June set up to be a turning point in the Long Haul Portfolio management as I perfected the switch of my assets from my bank account in Italy to Interactive Brokers.
While this might seem trivial, it has a lot of implications for me, for starters I have to hire a special accountant to do tax returns on the money earned/lost on the IB platform. Secondly the move means starting to trade options (see here), and more chances to supplement with income my PF. Thirdly, the effects of cheaper commissions should allow me to reap higher returns for the money that I invest, but that’s something that I might see in the future.
There was more on the grill: the whole Brexit story (here my thoughts), which provided much drama; the highest dividend month so far by “miles”, thanks to the proceedings paid by a corporate bond that I kept to stabilise the portfolio; and me getting a “new/old” job at a company where I worked before.
It was not an easy month and I do believe that times to come are going to be really harsh because the instability of Brexit and the coming US elections are going to increase volatility until the end of the year.
The Long Haul Fund proved very tough do the massive shock that rocketed the market after Brexit. It dropped to a 0.44% gain after all markets were crashing, and recovered to close the month with a 2.57% gain (May scored a 1.33%), which is the record in terms of monthly steps and it was much unthinkable two days earlier when markets started to fall.
Composition of the Fund is as follows:
BOND – 30.60%
STOCK – 57.23%
CASH – 12.17%
There was an important increase in cash proceedings thanks to a sale that I made of a property that my family owned, but so far very little has been deployed.
WFC – 20 @ 47.20 USD (good entry + needed to trade options)
BIT:ATL – 50 @ 21.95 EUR
BIT:G – 120 @ 11.45 EUR (good entry + needed to trade options)
EPA:MMB – 35 @ 19.95 EUR (good entry + needed to trade options)
LON:UU – 120 @ 9.15 GBP (good entry point on this very defensive stock)
TROW – 14 @ 71 USD
BIT:ATL – 50 @ 20.8 (another great entry point on this stock)
Most of the trades were made to have the required minimums to sell covered calls on certain securities.
New Positions – Sold Positions
None to report.