Weekly Update #7: Dec. 3 2023

Welcome back to the No Rainy-Day portfolio!

WHAT YOU NEED TO KNOW ABOUT MARKETS THIS WEEK

November was a solid month, the S&P500 up 9%, riding the wave of easing financial conditions.

There's no change from the last update. Crypto, equities, and precious metals continue to look good.

For those of you who are looking to increase your crypto exposure, have a look at Ethereum which is currently breaking out. It might offer a good entry point.

PORTFOLIO UPDATE

Coming to portfolio positions. The model picks have continued to perform nicely since they were published. All are in the green zone and we continue to ride the uptrend, with no movements in the portfolio this week.

We started the portfolio with $10,000 6 weeks ago, and the net asset value is up 47%!

THE MOST INTERESTING THING WE CAME ACROSS

Investing legend Charlie Munger passed away this week at 99 years old. The only thing that might be more impressive than his intellect was his strength. My favorite story about him illustrates how he stood as a testament to perseverance.

In 1953, Munger was 29 years old. Recently divorced, he went broke and lost his house. One year later his 8-year son, Teddy, was diagnosed with cancer. His leukemia was incurable. Teddy died at the age of 9. Charlie was then asked about self-pity:

" Generally speaking, envy, resentment, revenge and self-pity are disastrous modes of thought.

Every time you find you are drifting into self-pity, I don´t care what the cause is, your child could be dying from cancer, self-pity is not going to improve the situation. It´s a ridiculous way to behave.

Life will have terrible blows, unfair blows, it doesn´t matter. Some people recover and others don´t. There I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something and your duty was not to be immersed in self-pity, but to use the terrible blow in a constructive fashion."

Fast forward to 52 years old, a failed surgery left him blind in one eye with the potential of going fully blind one day. Not surprisingly when confronted with the possibility of going blind he said: "It´s time for me to learn braille!"

RIP

LISTEN OF THE WEEK:

That’s it from us this week, thanks for reading!

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DISCLAIMER: The No Rainy-Day Portfolio is not registered with any financial regulatory agencies. Content is for research, education, and entertainment purposes and should NOT be considered personalized financial advice.