By Greg Bordelon
Published on August 4, 2024 at 7:12 PM
The portfolio gained 56 bps on gross market value (GMV) for the week ended 8/2/24. Setting a new high on the year, total return for the portfolio this year is +825 bps on GMV. Daily swings were wild last week, but positive P&L on four of the five trading days pushed the book into the green. Position turnover was minimal, as we danced with the book that brought us (into the market selloff). Source: Bloomberg, …
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By Greg Bordelon
Published on August 4, 2024 at 7:11 PM
Summary Portfolio performs well in a down tape Fading geopolitical risk, embracing macro risk Staying defensive; patiently long gas equities & impatiently short refining Trading homogeneity Performance The portfolio gained 56 bps on gross market value (GMV) for the week ended 8/2/24. Setting a new high on the year, total return for the portfolio this year is +825 bps on GMV. Daily swings were wild last week, but positive P&L on four of the five …
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By Greg Bordelon
Published on July 28, 2024 at 6:30 PM
The model portfolio was down 51 bps for the week ended July 26 as the book got clipped on Wednesday and Thursday in the follow-on Momentum selling across the market. Performance year-to-date is +707 basis points on (gross market value) GMV. Individual pair losses were manageable, but the hit rate went against the portfolio. The book’s long gas/short refining exposure was a performance drag as gassy equities sold off with natural gas once again testing …
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