Flows? Where we're going we don't need Flows..

Week 50 - Equity Portfolio Update

Dec 07, 2025

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TL;DR
🛢️ Energy rotation continues in stocks while oil still hasn't got the memo..
🏗️ Materials have bullish numbers but not so much of the returns.

Ticker vs Market Cap is balanced with the Mag ⑦ lagging.

As I said in yesterdays index review all the underlying signs are good…

but…

It needs to translate into a new high else it will simply become the first bear market bounce.

The High betas have done their bouncey thing, will it be sustained?

Current Open Equity = 31.3%
Stop Loss Trigger = 29.6%
Current Closed Equity Return = 24.2%

Our open equity outstanding is ~31% since we started in Dec ‘23. We have been able to capture ~24% returns in closed trades, meaning ~7% open equity still belongs to Mr Market. Until we close the trade it doesn’t yet belong to us!

Do I wish it was higher? Of course I do! Equities have had a crazy year in 2025 and I wish I had captured more of it.

I am also super proud that the system in the panic of April allowed us to keep our head and not make any stupid forced mistakes.

Everyday is a school day.

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SP500 Index Update