With Q3 officially behind us, I would like to share a quick update on the Interconnected portfolio’s quarterly investment performance update, as we have done in the previous two quarters.

Here is our Q3 2023 (and cumulative 2023) performance and quarterly benchmarks comparison (as of September 30):

  • Interconnected Portfolio Q3: +19.02% (cumulative 2023: +350.95%)
  • S&P 500: -3.76%
  • DJIA: -2.65%
  • NASDAQ 100: -3.42%
  • Russell 2000: -5.95%
  • MSCI World: -3.66%
  • Wilshire 5000: -3.80%

Usual disclaimer applies: past performance is not indicative of future results.

Because we moved to a different brokerage firm in early July, we lost a few days of normal trading access during the quarter. Nevertheless, in a decidedly tough and down three-month stretch, our portfolio withstood the difficulties and continued to add to our gains this year. This was possible largely because we stayed disciplined and only operated within our tight circle of competence, which are companies that fall into the following categories:

  • DevOps
  • Cloud infrastructure
  • Open source (software and hardware)
  • A subset of China tech that overlaps with the three areas above
  • Technologies that have a strong influence on or by geopolitics and US domestic politics

There is more information I would like to share with you on how our investment process and portfolio construction works, from specific companies and technologies we are researching, to large trends we are observing, to how we are translating those learnings into real investments and “skin in the game”. I’m putting the final touches on how to do that, as part of a bigger evolution of Interconnected’s next phase, tying both our writing and our investing in a more valuable way.

I will make a more detailed announcement some time in the next two weeks on what that will look like. (Thank you to all the readers who’ve answered our poll from last quarter’s update and wrote detailed comments and suggestions to me!)

Until then, I hope you are having a great start of Q4 2023!