I have to start this year’s performance review off by quoting my favourite hedge fund manager, Harris Kupperman, affectionately known as Kuppy on X ( https://twitter.com/kuppyskorner )
“Once a year, we must stop everything, tally up the scores and see who got it right. Besides, what’s the point of going through all this effort, if you cannot point to the scoreboard, and flaunt it a bit.” (https://pracap.com/2023-position-review/ )
As can be seen from the graph above, my sister’s portfolio enjoyed another good performance during 2023. She was up 28.3% vs the 7.9% of the JSE ALSI Total Return (TR) Index. The JSE ALSI index was up 5.3%. In other words, she beat the SA stock market by more than 3X during 2023. During the last 5 years her portfolio’s CAGR was 18.3% / year, and the CAGR for the last 10 years, 15 years and 18 year period can be seen in the table below. The effect of this long term compounding performance is that for every R100 000 of her money that she entrusted to me at the end of 2007, is now worth c. R 1 000 000-00, a 10X, and more than 2X the market.
I hope she is satisfied. In terms of my own portfolio NAV performance, where I tend to take a bit more risk, I had one of my best years, up c. 44%.
Given the abuse and mockery I have had to endure from a certain hedge fund this year on X, I thought to include the relative performance of their fund, as well as that of arguably the best hedge fund in SA imo, namely the Peregrine High Growth Hedge Fund. This is the first time I have compared my investment performance against one of the biggest ego’s in SA’s investment industry, who’s leader is very quick to tell you that he has made more money than anyone else in SA’s markets. So my dear sister can rest assured that although the yellow line is close, and a respected and formidable competitor for her precious money, she is comfortably ahead of the Big Ego since their 2014 retail inception offering !
Here’s to wishing a happy new year to all. May you live long and prosper.
Roll on 2024 !
