2023: the year of cash and t-bills

[Gregmal]

So…how’d everyone do?

[Parsad]

Up 61% on average in corporate, non-taxable accounts.  Cash accounts were up 26%...they were half Fairfax or Fairfax & some Meta.

 

Non-taxable accounts are now about 65% cash and rising as I roll over t-bills...these are opportunistic accounts.  I maintain cash accounts at 50:50 Fairfax and cash...totally comfortable holding FFH long-term...will do far better than just t-bills and the stock is liquid enough.  Corporate account is 35% FFH, 35% other long-term equities and 30% cash...this is long-term, quality holdings that compound nicely.

 

2023 may have been my single greatest year in dollar gains, and is pretty close to number 1 in overall percentage return personally!  Cheers! 

[Dinar]

Twenty five percent in USD

[james22]

+16%

 

Funny year.

[Gregmal]

Yea it was tough. 
 

JOE +5%
Nintendo +5%
MSG +5%
FRPH +5%
Fairfax +5%

UBS +5%
Uber +5%
AIV +5%
 

Margin (-)6.5%
 

Shoulda been in CDs and Billz cuz recession 

Edited December 29, 2023 by Gregmal

[Ross812]

22% in aggregate across all accounts which includes a 25% ish cash position (emergency funds, short term, and dry powder because a recession is supposed to come right? ).  My main trading account was up 46% mostly due to concentrated positions in META, FFH, and DFIN.

[LC]

looks about 30% overall. >33% FFH position was the leader, strong contributions by JOE, SNC Lavalin, Petrobrasil, and bottom ticking Aecon.

 

Biggest donkers was Clipper and Televisa. Strong props to the Citi buyers turning that into a positive position by year end. I look forward to existing all 3 as I don't want to be long term owners or any, except perhaps if TV spins its soccer team.

 

Biggest mistake was not trading better around core positions. MSGE approaching 40 post-spin is the one I remember best.

[Xerxes]

This is a day early. Year has not ended yet. 

[DooDiligence]

I'm up 30ish percent in both taxable and non. Some of what I own rallied after being down at the start of 2023 and I had a few recent dumb luck picks (GOOGL and a quick ride up on SMH). Intel has rallied and I sold everything in non-taxable last week for a small gain and started rolling the proceeds into Hershey. I think Hershey will continue selling a crap-ton of chocolate and savory crunch snacks. I like that they acknowledge defeat outside of the USA and haven't tried to buy their way into foreign markets. I've made nice gains with NVO on the Ozempic hype and think Hershey could be a winner if they are not affected by widespread US societal dietary changes over the long term. This is an iconic American candy manufacturer with roughly 2 week product development times and the ability to chocolatize anything and slap the Hershey name on it. That's a lot easier to understand than Intel and I'll sell all of what I own in taxable in 2024 and likely roll the proceeds into HSY.

 

https://techandmedialaw.com/hershey-trademarks-a-symbol-of-love/#:~:text=The Hershey's Kisses® packaging,words%2C logos%2C and design.

Edited December 29, 2023 by DooDiligence

[Luca]

Im with IB since end of July, performance as of today since end of July TWR is 15.12%. 

Since FFH was a large position also in the beginning of the year and the rest did well too, returns are easily north of 30%, good year

 

0 Bonds (does Fairfax count? :D), now with a bit of margin. 

Edited December 29, 2023 by Luca

[lnofeisone]

I'm up roughly 20% across the board mostly due to some concentration in the portfolio. My biggest detractor was and continues to be VET. VRRM and SAVE are the biggest gainers. SAVE was a late bloomer as I sold a bunch of puts when it dipped sub $10. 

[Eldad]

6 hours ago, DooDiligence said:

I'm up 30ish percent in both taxable and non. Some of what I own rallied after being down at the start of 2023 and I had a few recent dumb luck picks (GOOGL and a quick ride up on SMH). Intel has rallied and I sold everything in non-taxable last week for a small gain and started rolling the proceeds into Hershey. I think Hershey will continue selling a crap-ton of chocolate and savory crunch snacks. I like that they acknowledge defeat outside of the USA and haven't tried to buy their way into foreign markets. I've made nice gains with NVO on the Ozempic hype and think Hershey could be a winner if they are not affected by widespread US societal dietary changes over the long term. This is an iconic American candy manufacturer with roughly 2 week product development times and the ability to chocolatize anything and slap the Hershey name on it. That's a lot easier to understand than Intel and I'll sell all of what I own in taxable in 2024 and likely roll the proceeds into HSY.

 

https://techandmedialaw.com/hershey-trademarks-a-symbol-of-love/#:~:text=The Hershey's Kisses® packaging,words%2C logos%2C and design.

22% with 25% ST Treasury. Kids accounts that only buy CSU and similar during panics continue to crush.

 

You are right HSY is an extremely profitable, high return, well managed CPG company. I have about 1.5% holding already, but I need to take advantage of these rare cheap shares. Thanks for the conviction. 

[Gregmal]

5 minutes ago, dealraker said:

Since the online investment world came about I've consistently underperformed as per my reading and observations.  Before that I was embarrassed by the person-to-person interactions as to yearly performance.

 

Somehow...some way I've survived.  My little $30,000 401K contribution began with $50 a month rising to $200 a month is now a tad over $1.4 mil and has yet again had quite the underperforming year of about 17%.   Since inception $14.98% with basically no trading for decades until this year when I made signficant changes.

 

WELLSTRADE IRA

Show As of Date

+3.93%+17.06%+11.95%+12.04%+13.31%+14.98%01/31/2011

Historical Returns

 

Performance Chart. Chart data is also available in the following table.

Bar chart with 12 bars.

The chart has 1 X axis displaying yearly increments.

The chart has 1 Y axis displaying return percentage.

 

 

2013201420152016201720182019202020212022YTDSincePerformanceInception-48%-24%0%24%48%

End of Chart Area

 

The data presented in the Historical Returns graph is available in the table below

Investment Results

Year	Return	Beginning Market Value	Deposits Minus Withdrawals	Investment Results	Ending Market Value
Since Performance Inception	+14.98%	$126,513.16	+$118,684.57	+$1,159,120.32	$1,404,318.05
YTD	+17.06%	$1,199,701.17	$0.00	+$204,616.88	$1,404,318.05
2022	+0.81%	$1,190,031.46	$0.00	+$9,669.71	$1,199,701.17
2021	+20.59%	$986,824.87	$0.00	+$203,206.59	$1,190,031.46
2020	+12.82%	$874,655.60	$0.00	+$112,169.27	$986,824.87
2019	+24.56%	$702,183.47	$0.00	+$172,472.13	$874,655.60
2018	-1.26%	$711,136.40	$0.00	-$8,952.93	$702,183.47
2017	+12.33%	$633,078.14	$0.00	+$78,058.26	$711,136.40
2016	+15.75%	$546,940.28	$0.00	+$86,137.86	$633,078.14
2015	+0.15%	$546,101.43	$0.00	+$838.85	$546,940.28
2014	+19.64%	$456,465.26	$0.00	+$89,636.17	$546,101.43
2013	+41.70%	$322,142.95	$0.00	+$134,322.31	$456,465.26
2012	+19.51%	$269,559.28	$0.00	+$52,583.67	$322,142.95
2011	+16.33%	$126,513.16	$0.00	+$24,361.55	$269,559.28

 

 

My taxable stuff has grown from $47,000 in 1975 to just short of $40 mil...while yes having yet another blisteringly underperforming year compared to others I read online, guessing too it came in about 15-17%.  AJG (I have 62,500 shares basis $8) got about 18% and Berk (25 A shares begun at less than $5k) came with about 17% or so and these are 81% and the rest obviously lagged to some degree.

 

Suck it up and move on is the game I play; grit and grind...sneak around and meekishly hide in the shadows from the out-and-about peformance bunch.  

 

Being silly again.  Life is great...if you can stand it!

Yea you also had a drawdown in 2018 it seems. Unacceptable 

[Jaygo]

48 minutes ago, dealraker said:

Since the online investment world came about I've consistently underperformed as per my reading and observations.  Before that I was embarrassed by the person-to-person interactions as to yearly performance.

 

Somehow...some way I've survived.  My little $30,000 401K contribution began with $50 a month rising to $200 a month is now a tad over $1.4 mil and has yet again had quite the underperforming year of about 17%.   Since inception $14.98% with basically no trading for decades until this year when I made signficant changes.

 

WELLSTRADE IRA

Show As of Date

+3.93%+17.06%+11.95%+12.04%+13.31%+14.98%01/31/2011

Historical Returns

 

Performance Chart. Chart data is also available in the following table.

Bar chart with 12 bars.

The chart has 1 X axis displaying yearly increments.

The chart has 1 Y axis displaying return percentage.

 

 

2013201420152016201720182019202020212022YTDSincePerformanceInception-48%-24%0%24%48%

End of Chart Area

 

The data presented in the Historical Returns graph is available in the table below

Investment Results

Year	Return	Beginning Market Value	Deposits Minus Withdrawals	Investment Results	Ending Market Value
Since Performance Inception	+14.98%	$126,513.16	+$118,684.57	+$1,159,120.32	$1,404,318.05
YTD	+17.06%	$1,199,701.17	$0.00	+$204,616.88	$1,404,318.05
2022	+0.81%	$1,190,031.46	$0.00	+$9,669.71	$1,199,701.17
2021	+20.59%	$986,824.87	$0.00	+$203,206.59	$1,190,031.46
2020	+12.82%	$874,655.60	$0.00	+$112,169.27	$986,824.87
2019	+24.56%	$702,183.47	$0.00	+$172,472.13	$874,655.60
2018	-1.26%	$711,136.40	$0.00	-$8,952.93	$702,183.47
2017	+12.33%	$633,078.14	$0.00	+$78,058.26	$711,136.40
2016	+15.75%	$546,940.28	$0.00	+$86,137.86	$633,078.14
2015	+0.15%	$546,101.43	$0.00	+$838.85	$546,940.28
2014	+19.64%	$456,465.26	$0.00	+$89,636.17	$546,101.43
2013	+41.70%	$322,142.95	$0.00	+$134,322.31	$456,465.26
2012	+19.51%	$269,559.28	$0.00	+$52,583.67	$322,142.95
2011	+16.33%	$126,513.16	$0.00	+$24,361.55	$269,559.28

 

 

My taxable stuff has grown from $47,000 in 1975 to just short of $40 mil...while yes having yet another blisteringly underperforming year compared to others I read online, guessing too it came in about 15-17%.  AJG (I have 62,500 shares basis $8) got about 18% and Berk (25 A shares begun at less than $5k) came with about 17% or so and these are 81% and the rest obviously lagged to some degree.

 

Suck it up and move on is the game I play; grit and grind...sneak around and meekishly hide in the shadows from the out-and-about peformance bunch.  

 

Being silly again.  Life is great...if you can stand it!

 

Financial wealth is derived from owning assets, true wealth comes from having enough financial wealth to live the life that gives you purpose. Dealraker this is some inspirational stuff. Thank you.

[Spooky]

Solid year for me, didn't do much except some opportunistic buys:

 

CSU.TO up ~50% not including dividends or spin-outs (~43% of my portfolio at the start of the year)

BRK.B up ~12% (~21% of my portfolio)

VOO up ~21% not including dividends (~7% of my portfolio)

BN up ~16% not including dividends (~4% of my portfolio)

 

Bought the following during the course of the year:

 

BAC up ~19% not including dividends (~ 3% position now)

VIOO up ~15% not including dividends (~ 1.5% position now)

FFH.TO up ~20% (~ 3% position now)

PARA down ~2% not including dividends (~ 1.5% position now)

 

Cash is back up to ~7% position size now.

Edited December 29, 2023 by Spooky

[ValueArb]

Years not over yet. i need just one massive single day rally to get back to even.

[Eng12345]

I have always hated calendar year to year performance numbers - never thought they really painted a good picture of the cumulation of returns. 

 

Kind of pointless the flaunt a 30% year if at the end of it you're out of ideas or totally uninvested or everything you own has peaked. 

 

On another note - minus my CPNG position I am sitting at around ~15%. However I am carrying a large CPNG loss that I am not one iota concerned about...hard to measure year to year performance when you have 5 year bets.

[UK]

1 hour ago, dealraker said:

Since the online investment world came about I've consistently underperformed as per my reading and observations.  Before that I was embarrassed by the person-to-person interactions as to yearly performance.

 

1 hour ago, dealraker said:

Suck it up and move on is the game I play; grit and grind...sneak around and meekishly hide in the shadows from the out-and-about peformance bunch.

 

LOL. Thanks!

[Santayana]

39% this year, 56% for the past 2.  The majority of that is due to Fairfax, and luckily I didn't have any real stinkers to bring the returns down.

[RedLion]

39% in my ib account where most of my assets are. 
 

-1% in my 401k which is fairly insignificant percent of my assets. 
 

I believe this wild performance disparity has to do with watering the flowers and pulling weeds in my IB account while investing a lot of capital in real estate. 
 

The lackluster underperformance in the 401k involved catching several falling knives (looking at you BTI snd CLPR) selling winners too soon. 

Starting in late July I made a series of real estate investments which are still being stabilized. I can’t really say how these have done over such a short time frame, but I do think I am comfortably in the black overall. The largest of these real estate investments I am very optimistic about since my plan value (to go bf) should drive 40-50% return unlevered, and hopefully get my entire investment back on a cash out refi sometime late 2024. 

[backtothebeach]

15 hours ago, Parsad said:

Up 61% on average in corporate, non-taxable accounts.  Cash accounts were up 26%...they were half Fairfax or Fairfax & some Meta.

 

Non-taxable accounts are now about 65% cash and rising as I roll over t-bills...these are opportunistic accounts.  I maintain cash accounts at 50:50 Fairfax and cash...totally comfortable holding FFH long-term...will do far better than just t-bills and the stock is liquid enough.  Corporate account is 35% FFH, 35% other long-term equities and 30% cash...this is long-term, quality holdings that compound nicely.

 

2023 may have been my single greatest year in dollar gains, and is pretty close to number 1 in overall percentage return personally!  Cheers! 

Congrats! Very impressive, considering this was without employing margin/leverage (I think).

 

Thank you for maintaining this forum!

[dealraker]

I'm most wanting to hear from Parsad on this year.  Gotta be a barn burner for him!

[dealraker]

2 hours ago, Spooky said:

Solid year for me, didn't do much except some opportunistic buys:

 

CSU.TO up ~50% not including dividends or spin-outs (~43% of my portfolio at the start of the year)

BRK.B up ~12% (~21% of my portfolio)

VOO up ~21% not including dividends (~7% of my portfolio)

BN up ~16% not including dividends (~4% of my portfolio)

 

Bought the following during the course of the year:

 

BAC up ~19% not including dividends (~ 3% position now)

VIOO up ~15% not including dividends (~ 1.5% position now)

FFH.TO up ~20% (~ 3% position now)

PARA down ~2% not including dividends (~ 1.5% position now)

 

Cash is back up to ~7% position size now.

So I'm off on my quick Brk calculation.  12%.

[Paarslaars]

2013	8%
2014	25%
2015	-20%
2016	40%
2017	-26%
2018	-17%
2019	20%
2020	-5%
2021	47%
2022	-4%
2023	77%

 

Pretty good year for me.

Especially taking into account that at the start of 2023, my portfolio was 3x the size it was before due to adding cash coming from real estate.

That makes this years 77% completely dwarf all the previous years in absolute terms and has had a big impact on my total net worth.

Though in full disclosure, my total net worth is still only a small fraction of someone like @dealraker 

 

The good:

• Half of my returns this year came from a 450% gain on UBS calls --> this was a special situation that turned out perfectly as expected.
• The rest came from loading up on options in November (JOE +75%, SAVE +140%, BYON +250%).
• Couple of stocks also did well: Nintendo +20%, FFH +22%, Google +30%.

The bad:

• MANU calls went to 0
• CPNG calls down 40%
• GXE down 18%

Overall I guess what I got right this year was position sizing, especially being able to concentrate and average down in high conviction ideas.

Now let's hope I don't screw this up next year. 

 

 

Edited December 29, 2023 by Paarslaars

[Spooky]

5 minutes ago, dealraker said:

So I'm off on my quick Brk calculation.  12%.

I could be off too - I am just doing quick and dirty calculations through Questrade.