Jesteve's Equity markets outlook

Escrito 9 Oct

Dear colleagues, 

I'll sumarize the perspective from which I manage my portfolio with anual returns around 15%.

(My portfolio is not published in Unience because Inversis Banco is not available yet at Unience manager's please !!

A mild recession in Europe is the base case, so I maintain a defensive bias. (Strong liquidity position)

Reduction on emerging markets exposure in favour of Japan.

Investments are maintained only in large caps with high dividend yield.

5% of the portfolio is used in trading derivatives -only punctually- due to the high volatility, trading options (not futures) is becoming safer with the "exit with gains strategy" as oportunities come quite easily.