Kernow Asset Management tear sheet for the month ended October 31, 2024.
The strategy returned 2.0% despite the new UK chancellor robbing Peter to pay Paul.
At least AIM is Paul and not Peter. These UK-listed smaller company stocks breathed a sigh of relief, with the budget revealing a halving of IHT relief, not a complete removal. Our tactical shorts here did not work. Cue the small violin.
Our positive monthly performance came from the big shorts we mentioned last month. One is now in crisis mode, with the Chairman distancing himself from RNS communications. The other completed an emergency fundraise.
The latter's lipstick pig value turned out not to be worth...
