Elliot Trexler, Chief Investment Officer of Global Return Value Investments, discusses today's sell-off.
Dear Friends and Partners,
Major market indexes closed much lower today:1
- S&P 500: -4.93%
- Russell 2000: -6.47%
- Russell 3000: -4.90%
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I'm happy to report that our long-only portfolio declined only 2.48%, demonstrating our Algo's resilience.2
Our largest position, representing 4% of assets, held up even better, down only 1.13%.2
Our relative outperformance underscores the strength of our Algo and its ability to navigate volatile market conditions.
Regarding the markets, we've entered a new market regime - one I'm calling "Trump's Tariff Tantrum." Like the "Covid Recession," the "European Debt Crisis" and the "Global Financial Crisis," I expect this period to leave a lasting impact on global markets.
In a note I sent on March 10th I warned, "I expect continued economic uncertainty and market volatility". Unfortunately, that expectation played out, and I believe we're in for more turbulence ahead.
Rest assured, I'm actively monitoring the markets, our holdings and our Algo. As always, feel free to contact me should you have any questions.
Sincerely,
Elliot Trexler
646-838-8182
1 Data for April 3, 2025, only. Sources: FTSE Russell, S&P Global and Global Return.
2 Data is for April 3, 2025, only. Global Return results do not include a Management Fee nor Performance Allocation; if these were included our results would be lower. Past Performance does not guarantee future results. See Important Disclosures.
