I spent much of Q1 in Chile and Argentina, and for much of it, it would have been good if I just hadn’t looked at my portfolio. My large short positions in equity indices held me back more than anything, despite material outperformance from a few of my long positions.
My frustration with my short book led me to make other mistakes. For instance, one day I meant to sell calls on a stock and accidentally sold puts. The only thing that allowed me to reset my mental state and refocus my portfolio was going full black pill with sarcasm and humor and taking a step back from social media.
So now here I am, essentially back to where I started on the first day of the year on my main account. I have other books as well - crypto, precious metals, bonds, real estate - but the account I usually reference is one of the largest chunks of my wealth and the one I am typically talking about when I discuss my performance. Anyway, here’s a deep dive on how Q1 went and how I’m positioned today.