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Week 13 Intra-Week Update

Apr 03, 2025

∙ Paid

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Does anyone know the movie quote?

Answers on a postcard or in the comments.

Why is there so much to say today about tariffs when they have been discussed for the last 6 months? Shouldn’t the market have all this information in?

Oh that’s right. The market doesn’t care!

Today was just the same as August 5th.

IWM-type equities peaked 4 months ago! Does that mean small-cap investors are more intelligent than large-cap investors? Well, that’s not right because large caps have gone up so much. So the little guys can’t be that clever because otherwise they would have made more money.

We were already in a downtrend.

Just as for August 5th major indexes and currencies had already turned 10-15 days before a random Ministry of Finance meeting that people who never pay any attention suddenly had to write about because everyone else was writing about it.

Save yourself from the nonsense. Just follow prices. Be just as comfortable winning as losing. It’s OK.

Trading should be boring.

Current Open Equity = 30%
Stop Loss Trigger = 28.7%
Current Closed Equity Return = 28.1%

Our open equity outstanding is ~30% since we started in Dec ‘23. We have been able to capture ~28% returns in closed trades, meaning ~2% open equity still belongs to Mr Market. Until we close the trade it doesn’t yet belong to us!

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