March Q1 2022

Change is the only constant...

I’ve switched to Portseido for portfolio tracking - webull has been giving me some wonky portfolio performance data recently…

Life is still hectic, but I thought it was worth trying to capture the current state of my portfolio for future reflection.

I don’t have a lot of commentary to add.

The market is ugly, there is a lot of uncertainty, and the situation in Ukraine is of great concern on multiple levels. Inflation remains a concern. Software valuations have compressed further. Many 2020-21 leaders have been wrecked.

Hedge funds run by respected investors are shutting down. The pressures of near term time horizons running OPM can’t be underestimated. From my side, it's worth stating that my portfolio remains roughly £100,000 lower than its frothy peak last February.

I’ve not spent a lot of time looking at my portfolio nor on Twitter, but have an awareness of how ugly it has been. March 14 was my recent nadir - who knows if it was a bottom?

In an alternate universe, I’d have been looking to deploy some capital over the last few weeks. However, any extra money that I’ve had has gone on costs related to our international move and getting our home ready for rental.

Work has been great since I switched to contracting in the NHS instead of being a permanent employee. I’m now in the flow of things and working with former colleagues who I like. After a few back and forths with management and HR at a couple of organisations, I’ve shelved the idea of working through a company, and am paid directly from the organisations through PAYE, keeping my NHS pension, but getting a daily rate, while working on projects that are well within my skillset.

My average monthly pre-tax pay has almost doubled, albeit without the security or predictability of last year.

The Australia plans feel achievable but are still daunting. We are leaving the UK this summer, for a year or so, flights are booked (£3000 one way), and the visa fee (£4400!) has been sent to my shiny new 0% APR for 22 months credit card. I have every intention of clearing the card before I am ever charged any interest - I am confident that I can be sensible about managing my credit card after my adventures over the last few years. I’ve cleared £2000 off the card so far and will clear more before we leave, possibly clearing it all when we sell our car before departure.

We are in the process of trying to decide whether to ABNB our home or let it long term while away. We plan on converting our mortgage to interest-only for the time we are away. I didn’t particularly want to do this, but looking at the HCOL in Sydney, I don’t think we have much choice if we want to make the move. It’s pretty unsettling not knowing where the kids will be going to school, but I believe that things will work out in time.

It’s likely that I will sell some portfolio holdings over the next 12 months. Investing for the long term means focusing on contribution over withdrawals and generally deferring gratitude for the long term. I’m willing to make an exception for this experience for our family and aim for us to have a 6 figure sum to build back from on our return….

Time will tell!