Statements for November have just been uploaded. We had some technical issues in the middle of the upload process but everything seems to be fine now. If for some reason your statement is not showing up, please reach out to me immediately. Just as a reminder – there will always be a notification sent to you when statements are uploaded on the portal.
Aside from that – we finished slightly in the green for November on the back of a very muted month in terms of volatility. That was actually quite a surprise to us given we had elections early in the month. However, once that event risk was over it seemed as if the market took an early Thanksgiving holiday. Much to our dismay, on the last trading day of the month we had Fed Chairman Powell speaking at the Brookings Institute. Given Chairman Powell has more influence over the markets than any person on this planet we tend to sit on the sidelines when he’s speaking. You will typically see a liquidity vacuum which causes extreme volatility. It’s easy to want to get involved in such events to catch big moves but doing that ignores risk which can be quite dangerous. So we’d rather keep our risk in line and allow things to play out. The end result was one of the largest upside moves we’ve seen all year. Again, frustrating to watch but we’d rather keep risk in line especially at the end of the month. With all that said, we’re hoping for some nice moves in the market on the back of his comments heading into year end. Let’s see how it plays out!