November 2022

A General Overview

Nothing much happened, illnesses, diseases and tantrums are getting the stage recently. Not a great month I’d say…

LH FUND

Explanation of terminology and graphs is HERE.

Let’s see the numbers:

Month	TR	YTER	NYYoC	Forex
31 Dec 2014	0.00%	0.00%	0.00%	0.00%
31 Dec 2015	-3.33%	1.22%	-0.13%	-1.00%
31 Dec 2016	7.06%	1.14%	1.16%	-4.35%
31 Dec 2017	9.94%	1.04%	2.64%	-5.94%
31 Dec 2018	3.28%	1.24%	2.70%	-3.53%
31 Dec 2019	23.50%	1.35%	2.72%	-1.40%
31 Dec 2020	15.76%	1.28%	2.70%	-7.60%
31 Dec 2021	37.13%	1.35%	2.69%	-2.05%
Jan 2022	35.83%	1.34%	2.61%	-2.75%
Feb 2022	35.70%	1.33%	2.63%	0.45%
Mar 2022	40.68%	1.32%	2.64%	0.19%
Apr 2022	41.87%	1.31%	2.65%	4.09%
May 2022	41.54%	1.32%	2.72%	2.06%
Jun 2022	34.62%	1.47%	2.63%	3.47%
Jul 2022	39.94%	1.46%	2.63%	6.32%
Aug 2022	41.24%	1.45%	2.66%	8.19%
Sep 2022	31.26%	1.44%	2.70%	7.53%
Oct 2022	37.94%	1.43%	2.71%	7.88%
Nov 2022	40.82%	1.42%	2.72%	3.17%

LH Portfolio Milestones + Monthly current year

TR is decreasing (vs. previous month) – Ups and downs, this time is an up…

YTER is decreasing (vs. previous month) – 1bps, every little counts!

Net Yearly YoC is better (vs. previous month) – 1bps, mostly thanks to the decrease in YTER.

Forex is worse (vs. previous month) – Still positive, bus the dollar is cooling a little…

Dividends and Options

Income this month was 1839 Euro

Dividends accounted for 1586 Euro (+11% vs 2021) and Options ended up with a 253 Euro score (+N.A.% vs 2021).

Dividends

Back on track for the best year ever… 🙂

Options

Not bad at all, well above the 200 euro target that I’ve set for myself.

DCA/Increased Positions

Sold 500 BIT:BENI @ 13 euro

Will try to get in ENI again at a lower price, oil is falling and I expect the stock to go down.

New Positions – Sold Position

Nothing to report

Financial Conclusions

November was a very positive month for the markets, bear market rally? Maybe, maybe not. I see inflation still rising, despite at a lower pace, and interest rates will be increased for the whole of 2023. But the markets are happy about it, as the pace is slowing down…

We need a recession, that’s it. The only problem is that so far since the central banks are controlling this bit of the cycle, everything is smooth and gentle, there is no real shock (as it happened in 2008).

If all stays like that I think that we might have seen the bottom of this bear market already, there might be some re-tests. All in all 2022 started pretty bad but is ending on a positive note.

But I still think that we need a major fall in order to clear the air.

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