Waiting on Warsh
—No changes; held the book.
As of 2026-05-18 · 5 weeks tracked
Total return
+0.20%
+$2 on $1,000
vs S&P 500
--
benchmarks pending
Max drawdown
-1.38%
peak-to-trough
Decisions made
5
over 5 weeks
Current book
6
positions held now
01 / Equity curve
Marked to market, every week.
$1,000 deployed at start, rebalanced each Monday. Benchmarks held passively.
Ormo+0.20%
02 / Decisions
What we did, week by week.
Newest first. Every change to the book: opened, closed, resized.
Holding Through Reacceleration
—No changes; held the book.
Holding Through the UAE Strikes
—No changes; held the book.
Holding the Defensive Book as Iran Risks Build
—No changes; held the book.
Buying Gold and Core US Stocks, Keeping Cash in Bills.
+ OpenedVOO, VWO, GLD, SLV, BTC, BIL
03 / Risk & book
Drawdown over time, and what we held.
The portfolio's worst stretch and how the book shifted week to week.
Underwater curve
Allocation, % of book
BILVOOGLDVWOBTCSLV
Methodology
Returns assume $1,000 deployed at the start date and rebalanced each Monday to that week's stated book. Prices are end-of-week close. No fees or taxes are modelled.
We do not grade individual calls. Some theses resolve in weeks (a tactical hedge), others over a year or more (a structural rotation into gold or emerging markets). Picking one window to judge them all forces unlike calls into a single frame and creates more noise than signal. The equity curve above, marked weekly against passive benchmarks, is the only judgement that does not lie.
Benchmarks: SPY for United States equities, a 60/40 mix of SPY and the Aggregate Bond ETF (AGG), BIL for one-to-three month Treasury bills (cash), and GLD for gold. All held passively from the start date.