The public portfolio is an experiment started on 1 December 2018. The idea was to take a $1,000 NZD investment and track its performance over the long term. The goal of the experiment was to add a practical element to the research conducted on this blog. All changes to the portfolio are recorded and tracked in the newsfeed below, with accompanying notes explaining the reasoning. All changes will also be tweeted with hashtag #bmoneymoves to create a timestamped history.
Please note: I am not a financial advisor and this is not financial advice. The investments below are based solely on the opinion of the writer and provided for informational purposes only. Consult your own professionals and make your own decisions.
December 12 2018:
Market is down further. Bitcoin is testing $3k, and I think it might break it. I think this is oversold territory. Ethereum has fallen under $100 USD which I also think is undervalued. People were bullish on Ethereum at $100 back in 2017 when we weren't even sure if it worked. Now it's facilitated thousands of ICOs and Casper is on the way. Sub $100 is a bargain in my opinion. Sticking to our cost-averaging strategy, I'm adding another 2% to Bitcoin and I'm also going to open our position on ETH.
ACTION 12/12/18:
BUY 0.003159 BTC / PRICE: $5,044 NZD / AMOUNT $16 NZD (including fees)
BUY 0.030119 ETH / PRICE: $132NZD / AMOUNT $4 NZD (including fees)
Twitter link
December 5 2018:
Going to enter a Bitcoin position today. It's difficult to be confident about an entry into the market right now, we're in the depths of a bear market and most people seem to be exiting rather than entering. There's a high chance Bitcoin falls lower tomorrow. However, the research tells me there is value at this price and the best I can do is follow the research.
Starting with a classic dollar cost averaging entry technique: 2% per week; that should exhaust the fiat fund over approximately one year. As a prudence measure I will keep a fiat reserve of $200 to give me some negative space. So 2% of $800 gives us a weekly entry of around $16 NZD. I may get more or less aggressive depending on how the market plays out going forward.
ACTION 5/12/18: BUY 0.002848 BTC / PRICE: $5,594 NZD / AMOUNT $16 NZD (including fees) / Twitter link
December 1 2018:
Starting today with a $1,000 NZD deposit. At this stage I am leaving it all in cash, but will start to drip-feed in weekly to Bitcoin, starting at 2%. We are in the depths of a bear market right now, and global economy is also showing instability. I think Bitcoin can go lower from here. Target allocation for Bitcoin is 40%, but I'm going to be prudent and build it slowly. I also am setting a target allocation for Ethereum at 10%, although I am holding off building that as of now.