How we did this month
I am happy to report that for the forth month in a row we are in the “double-comma” club, with our net worth well above £1 Million Pounds.
We closed July at £1,149,128. At today’s exchange rate, this means 1,290,347 EUR or 1,500,578 USD.
This is a massive £44,774 increase on the previous month, and it was due mainly to market movements in our portfolio – in particular superstar Burford Capital, one of my favourite holdings these days, which increased by almost 17k after announcing good results.
Brexit is still the main risk I see in front of us in the next few months. It has already wiped around 20% of value of our investments in Euro. In the past few months I have started positioning the portfolio so that many of the companies we invest in have international revenue and report in Euro or USD. However, I feel if the market crashed, it would probably drag down every companies.
How does 1 million plus feel?
“1 million” is an incredible milestone and it almost feels like a magic number to hit (unless you have it in Iraqi Dinars or Somali Shillings, that is). However, we don’t have a specific target we want to achieve before saying good-bye to the city and moving to the sea. It would obviously be nice to get to 1.5 million, maybe even to 2 million. But would I spend one more year trying to ammass that amount of money, instead of heading to Malaga and start our new chapter? No.