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Portfolio Watch – 2023 in hindsight

We launched our own alpha portfolio earlier this year, and oh boy has it been a (mostly enjoyable) ride. Read along as we look back at our performance this year and prepare for next year’s allocation.
2023-12-22
Portfolio watch

Merry Christmas and a happy new year to all of you from us here at Steno Research. What a year it has been, and we hope you have enjoyed the portfolio, trade alerts and our weekly portfolio updates, where we as always try to give you an edge and insight in what we are doing with our money. 

For those of you who have been listening to our ‘Macro Sunday’ podcast, it’s no secret that our trades are “sometimes maybe good sometimes maybe shit”, but our equal-weighted alpha overlay portfolio has since inception in May 2023 delivered a very decent return of around 5% with very little drawdowns of at max 3-4% (compared to 8-10% for S&P 500 as an example) and with a market beta of 0.15 (based on a simple linear regression). 

It’s safe to say that the portfolio has been a great success this year, and we look forward to (hopefully) continue delivering alpha in the new year

Chart 1: Cumulative portfolio return since inception

We launched our own alpha portfolio earlier this year, and oh boy has it been a (mostly enjoyable) ride. Read along as we look back at our performance this year and prepare for next year’s allocation.

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