Target weights at the last weekly rebalance. These are the intended positions, not a record of executed trades.
| Holding | Part of | Weight |
|---|
Tap a holding to see its price over the past year. The Europe holdings trade on Xetra in euros; everything else trades in US dollars or in London. Portfolio figures — weights and performance — are stated in US dollars throughout; each price chart is in its own trading currency, marked on the chart.
The book runs four independent parts plus one tilt. Each part picks its own holdings within its own corner of the market, and the split between them is fixed rather than discretionary.
What the rules would have produced on historical prices, after dealing costs. It is a simulation, not a statement of what was earned.
Growth of an initial US$10,000, simulated. The line reflects the same rules the book runs today, applied backwards over the whole period.
A rules-based portfolio of exchange-traded funds. It holds a spread of US sectors, broad asset classes, a small thematic allocation, and European sectors, and it reviews what it owns once a week. There is no leverage, no shorting and no discretionary override: the same rules run every week whatever I happen to think of the market.
It also has a defensive setting. When the broad market weakens on the measure the book tracks, part of the portfolio moves into short-dated government bonds until conditions recover.