Our October '20 Performance
Global Funds' Performance: October '20
The Global Freedom Fund SPC - Global Tactical Strategies SP (GFF-GTS) was up 2.1%
Our Global Portfolio product, the GMAAP was up 0.3%
Vs
MSCI World that was down 2.3%
The S&P 500 was down 2.8%
And, the NASDAQ was down 3.2%
Global Funds' Performance: Calendar 2020 YTD
GFF-GTS (US Dollar terms): +29.5%
GMAAP (US Dollar terms): +26.5%
Vs
MSCI World: -3.0%
The S&P 500: +3.2%
These numbers have come with relatively low volatility.
Annualised volatility has been 24-30% for our products in this turbulent year versus 32% for the MSCI World and 40.8% for the S&P 500!
India PMS Performance: October '20
The Pure Equity India Super 50 (IS50) was down 1.7%
While NSE 500 was up 2.6%
The Asset Allocation India Multi Asset Allocation Portfolio (IMAAP) was up 0.1%
And CRISIL Moderate Hybrid Index was up 2.6% (this is our Benchmark for the IMAAP)
India PMS Performance: 2020 YTD
The IS50 is up 19.5%
Vs
NIFTY 50 that is down 3.9%
NIFTY 500 that is down 3.8%
We are now more than 23% ahead of the market YTD!
The IMAAP is up 10.1%
Vs
CRISIL Moderate Hybrid Index that's up 5.1%
Once again, we have done even better on a volatility adjusted basis.
The annualized volatility for IS50 is 19.6% as against 36.3% for the NSE 500 and nearly 39% for the Nifty. The volatility for the IMAAP is a mere 10.8% against 17.8% for the CRISIL Moderate Hybrid Index.
October was a real fun month.
Global markets went into a swoon.
Indian markets were full of deceit.
How did we manage?
Our Global Performance Analysis
Remember what we had written in our September letter? That there was extreme speculation in American technology stocks, because even the proverbial shoeshine boys had started speculating in short-dated options.
As a result, The First Global patented TIPP (Tactical Insurance for Portfolio Protection) Tech kicked in, right from September onwards.
It saved us a bit in September, but it is in October where it displayed its full glory.
In a collapsing global market situation, our Global Freedom Fund-Global Tactical Strategies (GFF-GTS) delivered pretty decent numbers (ok, ok, we understand that modesty does not sit well with us but we do want to give it a shot once in a while).
Being up ~2% in a month where there was literally no place to hide, took some doing. After all, let alone country indices, even the MSCI World is DOWN 2.3% for the month.
We had to call upon a number of our proprietary tools built over 23 years, to help us navigate October safely and surely.
Our portfolio in October-end is positioned extremely well for any market scenario that might happen: up or down.
From September itself, we have been aggressively reducing our weight in US Tech, and increasing other Positions, across the world.
That strategy has paid off extremely well.
As you can see, YTD, we are solidly ahead of practically all benchmarks, and we intend to keep it that way. The GFF-GTS is up nearly 30% for the year - more than 33% ahead of the benchmark.
You see, we aren't kids, who get carried away. We have been around long enough to know when it's time to hunker down.
And that's what we did in October.
Our India Performance Analysis
India was a completely different kettle of fish, where we struggled a bit: but that was to be expected because in October, the month belonged to the poor and the downtrodden.
By this we mean, it belonged to banks: Indian banks have been complete dogs for the last several months but they reared their ugly little heads up, in October (like they did in June).
We have studiously avoided Banks and NBFCs this entire year, even when they start getting a bit frisky.
And we have not regretted this decision at all.
Therefore, in October it was basically banks and some other beaten down sectors (FMCGs) which were laggards in the last several months of this bull market, decided that they wanted to get into the act.
These things happen periodically.
There are times in markets when one should forget about the big shots, and just play a defensive game. It's not about getting runs - we have done phenomenally well this year - but it's about getting through a tricky period, safely.
As prudent investors, we are sure you agree.
One other phenomenon happened in the Indian stock market in October: the market move up became extremely narrow, because it was driven only by the laggards. The better performers of the previous months actually remained flat or even declined - which explains our small down this month.
Should you get worried about narrow markets?
You shouldn't.
Because we do all the worrying for you.
And we are extremely cautious in everything that we do: we are not a bunch of "Rose-tinted spectacle wearers".
We will take proactive action whenever our systems pick any turbulence.
That's what you guys pay us for.
Not just for making money.
But also for protecting money.
Only a Fund Manager that has both skills, deserves your money.
Never ever forget that.
Avoid the Big Losses
Play Everything. Believe Nothing
Stay Hungry. Stay Hare-ish
Take a look at the Comparative Performance till October 2020.
And our Human+ Machine delivers these Returns with the lowest possible risk.
As we've said before
We do not run "High Conviction" risk.
We do not run "Storification" risk.
We do not run "High Concentration" risk.
And yet we deliver.
Or maybe, that's why we deliver.
That is the beauty of our proprietary Human+Machine investment model.
For those who aren't invested with us, but want in, just drop us a line on https://bit.ly/2V0RxAx and we will get in touch faster than the price fall in US Tech stocks, last week.
By the way, you can also WhatsApp us on +91 8850169753
Chat soon!
From Your Friends at First Global
Trusted Financial Advisors to some of the world's largest Funds, Institutions & Family Offices, for 30 years
Economists Think Dollar's Fall May Explain the Recent ‘Rally’ by Steve Liesman
Einstein taught us about relativity in nature. Now come Devina Mehra and Shankar Sharma of First Global to teach us about relativity in financial markets -- and raise some serious questions about just what is driving stock prices.
First Global reports are quite credible and, on occasion, more than that.
What prompts this mention is Intel's earnings report and the fact that First Global has had a pretty good bead on the company and its stock.
AMD up again following First Global upgrade to ‘buy’ (AMD) By Tomi Kilgore
Analyst Kuldeep Koul at First Global upgraded Advanced Micro Devices (AMD) to "buy" from "outperform," given the "exceptional traction" that the chipmaker's Opteron line of processors has been able to get.
Baidu Climbs on First Global’s ‘Outperform’ Outlook
Baidu Inc., the operator of China’s most-used Internet search engine, rose to the highest price in two weeks after First Global rated the shares “outperform? in new coverage.
Personality counts: Walmart's frugal, but Target charms
"It's better to take a slight hit on [profit] margins and keep on moving and inventing," says First Global Securities. And at least for now, Target is inventing in a way that appeals to consumers with money to spend.
Dead Batteries
At 11 times trailing earnings, Energizer is cheaper; Gillette's multiple is 25. But cheaper doesn't mean better, says First Global.
Bipinchandra Dugam @bipinchandra90
@devinamehra @firtglobalsec
invested in both GFF-GTS and Super I50. Thank you very much for such wonderful investing experience with completely new approach. In my 15years of investing first product I felt which close to what customer want.
Shishir Kapadia @shishirkapadia1
@firstglobalsec @devinamehra
by far you are the best, I have not come across transparency, acumen, global expertise, exposure, protection of capital, delivering return from any fund/ fund managers. Invested very small size in 3 products will keep on increasing it over the period
Piyush Bhargava @PiyushB88762654
@devinamehra @firstglobalsec
Thanks you team FG specially Devina, my investment doubled in less than 3 years in SDPB As a investors & PMS distributor of your product looking to have a long-term relationship with the company.
@KarmathNaveen the person with whom I always interact
Sumeet Goel @GoelSumeet
Very happy & relaxed to be invested with first global pms
Shishir Kapadia@shishirkapadia1
Congratulations on super performance, above all transparency and systematic process are unmatchable.
One must opt this, if person consider him/her self as an investor. Very happy to be part of this since invested. FG has managed worst year (ie 2022) so efficiently and skillfully.
SY @SachinY95185924
With so much of volatility in the market, risk management is very important part & considering that FG is doing awesome work!!! Kudos to you Chief
Amit Shukla @amitTalksHere
Truly outstanding. As a retail subscriber to #fghum #smallcase, I can vouch for the Nifty beating returns (8% vs 3%) in last 1 year. Keep up the awesome work @firstglobalsec
We can load above testimonials on site as a scroller, and just below that we can add a section for compliments . Below tweets are comments and praises are related to our content, performance and some our direct compliments to you.
ADIT PATEL @ADITPAT11226924
Good team...
Special mention @KarmathNaveen .. he is soo helpful anytime of the day or night..
Hindustani @highmettle
Bought Peace with FG-Hum.Moving all funds from DIY investing to well managed and diversified PF at low cost.
It has doubled almost, excellent pick.Every small investor must invest in her FG-HUM Smallcase.
Suresh Nair @Suresh_Nair_23
I have 8 small cases and your has been the most rewarding ones .. thank you Devina.
Sayed Masood @SayedM375
There is absolutely no doubt that she is one of the best investors of India in modern times but more importantly, she shares the most sincere and sane advice with retail investors.
SY @SachinY95185924
Wow Superb Returns🔥 Congratulations Chief for being Number 1 among all PMS!!!
You are one of the sharpest mind in Global Stock Market
AnupamM @moitraanupam
Congratulations Devina, results talk in itself!
Abhishek @simplyabhi21
Congratulations ma’am @devinamehra ! The consistency you have in maintaining the top rank position is outstanding! 👏
Mihir Shah @Mihir41Shah
We are learning More about markets (& Life ) thanks to U than we learnt in our Professional courses.A BIg Thank You, Wish all get Teachers Like You!!
Sumit Sharma @MediaSumit
"The ability to be comfortable with being outside consensus is a superpower in investing...and in life." Devina ji hits the nail on its head!
Majid Ahamed @MajidAhamed1
Congratulations @devinamehra mam! All the best for long term returns as well.
Vinay Kumar @VinayKu05949123
This is the wonderful session I have ever attended till date. One of the most fruitful hour of my life. Devina madam, ur clarity on financial mkts is simply superb.The way u portray the facts supported by "data" about stock mkts is really astonishing.I will listen again.Thanks.
VIJAY @drippingashes
I loved to read your journey, insight and philosophy. It's a pleasure to read and know of your takes on market and life.
MNC🏹 @Focus_SME
Check & follow @devinamehra's timeline for lots of post debunking such rosy stories. Also, she gives amazing 🤩 sector directions/hints.
KLN Murthy @KLNMurthy2016
Good actionable insights, great article!
Suresh Nair @gkumarsuresh
Devina Madam is simply terrific... good knowledge, straight and simple thinking.
Very difficult to emulate such traits. I listen her past interviews from youtube.
Respect...!!!!
DD @AliensDelight
One of the brightest minds in the world of finance :)
Radhakrishnan Chonat @RCxNair
📣 Calling all investors! Just had an incredible interview with @devinamehra, Chairperson and MD of First Global. We discussed the importance of global diversification, effective asset allocation, and the risks of sitting on the sidelines. Trust me, you don't want to miss this!
siddarthmohta @siddarthmohta
Excellent performance. Flexibility is the key as you have mentioned it earlier also. Cannot have finite rules for infinite mkt opportunities.
Boom (বুম)@Booombaastic
To be honest, the insights which Devina madam brings in is very enriching..have learnt a lot from them...
Himanssh Kukreja @Himansh02428907
One of the most accurate analysts :)
I always look forward to you interviews mam
Abhijeet Deshpande @AbhijeetD2018
Madam, It is always a treat to read your insight, not only on business but on other topics also!!
Dada.AI @dada_on_twit
Thanks for this wisdom ma'am. Always love hearing your thoughts on everything equity. :-)
adil @zinndadil
Excellent points!
Can clearly feel this thread is a product of marination of many books and years of experience. 👍
Kamal thakur @Kamalgt10
Superb !!
Your knowledge, analysis & articulation is simply great 👍
Tanay @Tanay36232730
Follower on Twitter and Subsciber on YouTube of First Global, really helping me in my investment desicion. Thanks
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