Determinant portfolio: situation as of 01.12.2024

I would first like to apologize to my members for the significant portfolio turnover this month. This situation is the result of the transformation started in OctoberI want to reassure them: this process is soon coming to an end.

When everything is finalized, turnover should remain the same, or even slightly lower than in the past. Microcaps will certainly have a higher turnover due to more frequent rebalancing (now carried out monthly). On the other hand, blue chips, despite now being rebalanced quarterly, will see a decrease in turnover. This is due to the reduction in the number of securities associated with this strategy. Finally, the old tactical asset allocation (TAA) strategy, now represented exclusively by gold, will have a turnover limited to the strict minimum, simply resulting in a rebalancing of the position when it deviates too much from its target.

That being said, the determining portfolio concludes this month of November with a remarkable progression of +4.8%. It thus largely outperforms its reference index, the MSCI Switzerland, which falls by -0.4%.

This allows us to post a magnificent performance of 21.8 % in CHF over the last twelve months. This result clearly outperforms that of the Swiss market, which is limited to +8.1 %. At this stage, the year 2024 still seems to be looking promising.

This month, the statistics reported are still limited to the bare minimum. I am currently very busy with the remodeling of the portfolio as well as a partial update of the site. I hope to finalize these projects by the end of this year. I should therefore be able to provide you with a complete and fully updated report as early as next year.

Portfolio Update

The portfolio will be updated soon in the members section.