Earlier known as DalalStreetBulls

SEBI (Research Analyst) Registration Number: INH200004471

16 July 2018

Q1FY19 - Portfolio Performance


In this post, we highlight the performance of the portfolio for the quarter ended 30th June, 2018. We document our portfolio performance on a quarterly basis for the benefit of our readers and those who are interested in knowing the performance of our advisory service.
This post focuses solely on the performance of stocks and not the company results.
Performance

Our portfolio has under-performed the Nifty 50 (Total Returns Index), by delivering a +1.39% return against the Nifty 50 TRI's +6.41%. While the quarter was a great one for the largecap indices, the small & midcap indices performed poor by delivering -2.97% and -6.94% returns respectively. We have out-performed both these indices by a convincing margin.


The strongest performing stock of our Portfolio was Tata Elxsi which has a high allocation in the portfolio and has done very well since we purchased it in August 2017. Our portfolio is still below it's lifetime highs although the drawdown has not been severe - primarily because we have a big chunk of the entire portfolio parked in liquid funds.
To see our portfolio for new members, click here - Live Portfolio.
Are we satisfied?
Yes we are. Markets have their own seasons and at present we are going through a steep correction in small & midcaps where the valuations were astronomically high. Over the last one year, we have been defensive by having a high cash holding in the portfolio instead of trying to play the momentum. We feel that this stance is now paying off as our portfolio is withering through the market correction without any major drawdown.
Is it a good time for fresh investments?
Absolutely. If you are a serious investor, you have to face all the market conditions with confidence and patience. You cannot always be successful in trying to time the market by buying at the lows and selling at the peak. Investors who start now might not see consistently high returns over the next few months but they will be more disciplined than those who start investing when the bull market's momentum is high.
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