Another excellent year Eric! Congrats. I think this market, having returned to more historic interest rate reality, should continue to solidly favor your investment style - even more so than in the past. I'd bet you continue to outperform. Look forward to future updates - I read them with great interest.
One question - do you have other investments besides these public market investments? Have they over or underperformed your public investments? If you feel so inclined, I'd be curious to know your "overall" performance including % of other investments you may have (private co's, debt, other types of investments, etc.) I track all on one ss and include those in my overall yearly performance. For example, I'm at 63% public equities, 18% real estate and debt investments (not including house), 19% private investments (based on most recent marks). Overall, over the period you report I'm ahead of the S&P even with some lower than market debt dragging returns, but not as high as your performance :)
Hey Ryan - Thanks for the comments and for reading! Hope you are doing well.
I have a handful of angel investments, but those are more for fun. I effectively value them at zero and I don't factor them into my investment performance. No real estate or debt investments either. I guess I just like stocks better, but if you see anything interesting let me know :)
FWIW, it sounds like most private market valuations / marks are in fantasy land right now, but I think it might take a year or two to sort out:
Another excellent year Eric! Congrats. I think this market, having returned to more historic interest rate reality, should continue to solidly favor your investment style - even more so than in the past. I'd bet you continue to outperform. Look forward to future updates - I read them with great interest.
One question - do you have other investments besides these public market investments? Have they over or underperformed your public investments? If you feel so inclined, I'd be curious to know your "overall" performance including % of other investments you may have (private co's, debt, other types of investments, etc.) I track all on one ss and include those in my overall yearly performance. For example, I'm at 63% public equities, 18% real estate and debt investments (not including house), 19% private investments (based on most recent marks). Overall, over the period you report I'm ahead of the S&P even with some lower than market debt dragging returns, but not as high as your performance :)
Hey Ryan - Thanks for the comments and for reading! Hope you are doing well.
I have a handful of angel investments, but those are more for fun. I effectively value them at zero and I don't factor them into my investment performance. No real estate or debt investments either. I guess I just like stocks better, but if you see anything interesting let me know :)
FWIW, it sounds like most private market valuations / marks are in fantasy land right now, but I think it might take a year or two to sort out:
https://www.economist.com/finance-and-economics/2022/12/01/has-private-equity-avoided-the-asset-price-crash
https://www.ft.com/content/c5a1818c-3153-4031-83d1-fa45747c71d5