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No. of Recommendations: 9
My final 2018 report is at:
https://boards.fool.com/stevnfool-port-update-2018-34099067....

My last monthly report is at:
https://boards.fool.com/stevnfool-port-update-nov-2019-34359...

My numbers updated for December are below:

	        Jan	Feb	Mar	Apr	May	June	July	Aug	Sep	Oct	Nov	Dec	YTD		CAGR	GSD
Me	        3.37%	0.56%	2.06%	6.16%	-6.21%	5.04%	1.67%	-0.45%	3.37%	-0.65%	3.36%	0.60%	19.90%		19.90%	11.83%
																
NASDAQ	        9.82%	3.48%	2.68%	5.13%	-7.95%	7.77%	2.22%	-2.59%	0.51%	3.76%	4.63%	3.73%	37.15%		37.15%	17.26%
DOW JONES	7.33%	3.95%	0.15%	2.63%	-6.38%	7.35%	1.08%	-1.38%	2.15%	0.55%	4.06%	1.79%	25.03%		25.03%	13.69%
S&P500	        8.01%	3.24%	1.81%	4.08%	-6.37%	6.96%	1.51%	-1.68%	1.95%	2.21%	3.62%	2.90%	31.22%		31.22%	13.66%
Index Average	8.39%	3.55%	1.55%	3.95%	-6.90%	7.36%	1.61%	-1.88%	1.54%	2.17%	4.10%	2.81%	31.13%		31.13%	14.87%

Note that all numbers include dividends.  I used the total returns of
the corresponding ETF's (ONEQ, DIA and SPY) as a proxy for total return
of the indices.

Just a look now at the last few years:

	        2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019		CAGR	GSD
Me	        -15.57%	11.69%	17.39%	-3.22%	13.27%	20.02%	27.87%	2.86%	19.12%	6.32%	4.86%	19.90%		9.74%	12.10%
															
NASDAQ	        -39.50%	45.58%	17.60%	-0.52%	16.20%	39.86%	15.78%	6.69%	8.81%	29.28%	-3.18%	37.15%		11.92%	26.36%
DOW JONES	-32.30%	22.36%	13.55%	8.25%	9.93%	29.64%	9.72%	0.09%	16.37%	28.08%	-3.74%	25.03%		9.15%	19.34%
S&P500	        -36.71%	26.46%	14.59%	2.07%	15.99%	32.31%	13.46%	1.23%	12.00%	21.70%	-4.57%	31.22%		9.01%	22.08%
Index Average	-36.17%	31.47%	15.25%	3.27%	12.19%	33.94%	12.99%	2.67%	12.39%	26.36%	-3.83%	31.13%		10.03%	22.60%

The GSD numbers here are just calculated from the annual returns - not
from the monthly returns.

Portfolio Make-up
I have not really made any major changes to my portfolio during 2019
and I have no plans for major changes in 2020. My current portfolio
is not really MI at all in the traditional sense.  It is approx:

54% Berkshire Hathaway

16% Timing using a variation of NH-NL.  QQEW when bullish and mix 
of short RSP and cash when bearish. This has been continuously bullish
since Nov 2016. I'm not sure what I will do when the signal changes
next due to the difficulty of trading US ETFs from Europe since some
recent law changes.

<1% cash.

Remainder:  Several value positions some sometimes held as cash secured
short PUT positions but mostly just long stock positions.


My portfolio and currencies:

I live in the Eurozone (Ireland) and back in 2003, I had a very small 
portfolio and invested it entirely in NET-NET stocks.  Measured in USD,
I had a portfolio return of 103% for the year.  Measured in Euro
however, my portfolio return was 70%.  The drop in the value of USD/EUR
had cut a significant chunk from my return. For several years, I hedged
a significant portion of my portfolio from USD back to EUR or to a mix
of other currencies.

My thinking on this has changed somewhat and I now feel that currency
hedging is more appropriate for cash balances rather than for the stock
portion of my portfolio.  Since I don't tend to hold significant cash
balances for a long time, I dropped all my currency hedges during 2015.
I don't know if I will reinstate them in the future.

Because of my previous stance on currency hedging, I reported all my
returns in EUR but compared them to benchmarks in USD.  I suppose this
is not really correct given my current approach to this topic, but
for continuity, I think I will just continue as I have been doing.

StevnFool
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