Copiers and Followers Update – WEEK 35 (Aug 28th to Sep 3rd)
Hello,
What a week it has been! Amidst some market volatility, the Santiago1000 portfolio has showcased its resilience by bouncing back and delivering impressive gains, outpacing the three main Wall Street indices with an outstanding +4.36% performance.
Despite signs of an economic slowdown, the three major indices closed the week on a positive note. The Dow Jones Industrial Average saw a 0.3% gain, the S&P 500 rose by 0.2%, and the Nasdaq Composite held steady. Over the course of the week, these indices posted respective increases of 1.4%, 2.5%, and 3.3%.
Initially, the market received a boost from a robust August jobs report, but some gains were surrendered later as bond yields ticked higher. Experts like Craig Erlam, a senior market analyst at OANDA, believe that the favorable labor market data is likely to lead to a Fed rate pause in September.
In fact, the latest Fed futures are indicating a 93% likelihood of a rate pause at the upcoming Fed meeting in September, as per the CME FedWatch Tool.
Now, let’s delve into the specifics of the weekly income generated by the positions within our portfolio:
Top 5 Performers of the Week:
- $BLDR Builders FirstSource, Inc. +15,13%
- $MELI MercadoLibre, Inc. +14,85%
- $RH RH +12,49%
- $LULU Lululemon Athletica Inc. +10,56%
- $VALE Vale S.A. +9,81%
It’s evident that these stocks have had a remarkable week, contributing significantly to our portfolio’s success.
I want to take this opportunity to emphasize that I’m always available to discuss my long-term investment strategy. Feel free to reach out for any questions or insights you might need. And, of course, for those interested in following a proven strategy, don’t hesitate to consider copying my portfolio. Your financial journey is important, and I’m here to assist in any way I can.
Wishing you all a successful week ahead!
Santiago
