CGC Portfolio Position Update #1
Changes made to our portfolio as of the end of November
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Ever since we posted our opinion back in September of why we thought the consumer state was rapidly deteriorating, we’ve been very cautious about how we proceed in this volatile market.
Because of that, we’ve decided to take time in order to let macro play out more when it’s come to rates and how the FED would respond.
Since then, macro has shown the rate of inflation to slow and decline while the FED has not changed its stance on how to handle the current situation. Because of this, we have become incredibly bearish on retailers and other cyclical discretionary companies.
While we believe spending will still continue, where the consumers’ dollar is being allocated will matter. This is why we’ve re-entered the market and officially taken the portfolio to a NET SHORT status. The first time we’ve ever done this.
Here’s what we’re currently long and short at the time of writing.