Q3 2022 Portfolio Update

The joys of holding aren’t free

“The big money is not in the buying and selling, but in the waiting”

- Charlie Munger

The Hangover

It’s been a heck of a few years and coming off a big upswing in investor sentiment in 2020/21 2022 was quite a hangover, especially for those invested in high flying names.

Luckily for me, I’ve been spared the worst of it, for the most part. Looking ahead there is nothing but scary macroeconomic headlines and tales of gloomy reports incoming. I’m certainly not focused on making these predictions and it has been a tremendous distraction to researching great businesses to own for the long term.

Performance Review

My portfolio is down 20% YTD and is flat for the quarter. I’m not satisfied with these results but do not think they are representative to a great degree of the longer term prospects of these businesses.

Over 3 years I’m currently up 48% compared to 35% for the S&P 500. Past returns are meaningless but this gives me some confidence that I’m doing something that could be worth the effort compared with index investing.

Holdings

Watchlist

I’ve been researching Evolution EVO 0.00%↑, a dominant live casino provider based in Europe that has a beaten up share price. Look for some research to come out in the coming weeks.

Others on the list currently that I’m interested in digging further are listed below:

$tbtc Table Trac

LEE 0.00%↑ Lee Enterprises

GOOGL 0.00%↑ Alphabet

AEP 0.00%↑ Atlas Engineered Products

$drx.to ADF Group

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