Looking back on the quarter
The second quarter of 2023 has been quite the rebound. The S&P 500 made over 7%, the 2x NASDAQ over 25%. The Fed reduced it’s rate hikes and indicated that they inflation starts to stabilize. The worries about a real bank crisis did vanish and the production numbers increased again.
Report & review of the individual strategies
As would be expected, almost all strategies did fantastic. The trend following strategies stayed in equities all quarter long and performed exceptionally well. Particularly the holding of the 2x NASDAQ made the difference. While in the month of May our holdings in the S&P500 and the Dow Jones were slightly negative, the outperformance of the NASDAQ did cover any drawdowns.
The options strategies didn’t add a lot of performance to the total portfolio this time. We had some losers within the Iron Condor Strategy as the movement of the underlying was strong. But as we use Stop-Losses, those didn’t have a strong negative impact.
Performance of the portfolio
Overall, the performance was great, resulting in a return of +6.54%. The S&P 500 did a little better, ending with +7.39%. It has to be mentioned, that those values are in CHF. The currency rate did drag the performance down, as CHF became stronger over the same period.
Outlook & moving forward
I won’t be doing any changes in the strategies for now. The performance has been as expected. Having had such a great ride we might expect lower returns in the coming quarter.