Four months ago, Stuart Kirk predicted his portfolio would hit seven figures by January 11, based on a hyperbolic growth pattern. He now apologizes for the mischaracterization and the overconfidence. His portfolio has since stagnated and then declined, falling from £713,000 in late June to £672,000—a 6% loss.
The primary culprit is his Asia fund, heavily weighted toward Taiwan Semiconductor Manufacturing Company, which has been severely impacted by the AI market downturn. The Korean exchange is down approximately 40% from its peak, dragging his Asia exposure down 20%. He also notes the negative impact of Flávio Bolsonaro’s election loss in Brazil, though his Latin American trust remains cheap.
His Japan fund saw a mid-single-digit decline, mitigated by an earlier reduction in holdings. UK equities, particularly the FTSE 100, provided a strong hedge, outperforming in October as the Nasdaq fell. European markets also held up, despite ASML’s presence.
As predicted, his single bond investment offered protection against the AI bubble panic, with yields falling post-midterms despite fiscal concerns.
Source: Financial Times Markets · Summarized by HeadlinesBriefing