Perhaps the December Moleside Investors meeting heard, once again, a few jokey suggestions about putting money into producers of red ink.
Certainly no one was still thinking that the November upturn in the fortunes of the club portfolio were clear evidence that the recent rot had been stopped.
When MIC Chairman Kris Nasta warned his fellow members late last year that they should hold onto their hats as the blue line tracking Moleside’s performance slipped downwards, his advice was prescient. The destruction of the club’s remarkable 62% rise in its portfolio value over the previous two years was dramatic.
Back in November those looking for any silver lining in what that month’s results showed would surely have noticed that 10% jump in the value of the blue portfolio, together with continuing clear water between Moleside and its two benchmarks. In fact October to November 2022 may have seen the steepest monthly rise in value for MIC since the chart was established in October 2019.
But as this detail of market performance from September 2021 to Dec 22 shows the roller coaster continues and all three tracks, the blue of the Moleside portfolio, the grey of the UK Aim index and the red track of the FTSE All Share make very clear how markets in general have all followed a similar cruel direction.
December 22 did bring some positive news
Members were cheered to see that one of their recent purchases is the subject of an agreed takeover offer. They decided to realise the gain and invest in a new prospect they have identified. The new team approach to decision making – Investment Club News August 2022 – which ensures all members of the club can contribute more meaningfully to the decisions the club takes has now been developing for four months.The Moleside Investors are making sure they are as well placed as they can be to remain ahead of their game and, what really matters, to enjoy the way they do it.
For earlier reports from the MIC click the Tags below.