Portfolio Update Dec. 2024 (up 28% YTD)
As always, at the start of each month, here is an update on my portfolio allocation, performance, and monthly transactions for November!
Welcome back, everyone, to my monthly portfolio performance and allocation update.
Sweet gains for investors in November
Last month was exactly what we all needed after a somewhat flattish but volatile performance in September and October. Most global benchmarks delivered excellent returns in November, and so did our portfolio, which once again outperformed most global benchmarks.
Yes, earnings volatility remained significant, and I think more than half my holdings saw an adverse share price reaction after the earnings report despite delivering great overall results. Given current high valuations and significant global tensions, global markets and investors seem a bit on edge and hard to please, and rightfully so.
This seems to be becoming increasingly a stock picker’s market, with global indices becoming very expensive and current optimism for the market extremely hard to explain. Considering global geopolitical tensions and uncertainties (I mean, two wars, a new U.S. cabinet, and a trade war aren’t nothing) and struggling economic data (Stubborn inflation and high interest rates), I have difficulty keeping a positive view.
Nevertheless, all-time highs were set across the board in November, with U.S. indices setting one of the best months in 2024 thanks to Trump’s election win, while European stocks continue to struggle and look for direction, and the Chinese Hang Seng index gave away some of last month’s gains. The underperformance outside of the U.S. might also be partially explained by Trump’s tariff plans.
Here’s the full November performance:
YTD, the picture is more of the same, with U.S. indices doing very well and Europe underperforming, as we have gotten used to.
S&P 500 → 26.32%
Dow Jones → 18.66%
Nasdaq → 23.29%
STOXX 600 → 6.52%
Hang Seng → 14.93%
Ultimately, there is not too much to complain about, especially considering global economic weakness and geopolitical tensions. It most certainly is much better than I anticipated at the start of the year.
On that note, let’s turn to the InvestInsights portfolio, but first, here is an overview of all my November articles, in case you missed any:
Uber Technologies – A brilliant business executing to perfection (Quarterly Update)
Starbucks Corp. – Amid turnaround hopes, is this the time to buy?
MercadoLibre, Inc. – This 17% sell-off is a gift to investors (Stock Analysis)
monday.com Ltd. - Still a Rule of 40 business (Quarterly Review)
Mondelez International, Inc. – The best Defensive stock pick today
Qualcomm Inc. – A Deep Dive into its future and investment thesis
As always, the remainder of this article/update, where I get to my own portfolio (performance, allocation, updates, transactions), is for paid subscribers only.
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Another month of outperformance
My portfolio delivered another month of outperformance in November, delivering sweet returns after two tougher months in which semiconductor volatility led to an underperformance.