From The Fund Manager
A 39 week winning streak is going to be one hell of a benchmark to try and beat! We have discussed the inevitability of a loss week since the early reports and a few times we have come close, but this week we saw that inevitability come to fruition. Though this week has ended in a small loss, we did see a few good moves throughout the week, particularly in the beginning but those initial gains were undone by some failed hedges. That being said at the time of gathering the data for the report (the small hours of a Friday morning here in Adelaide) we were in a profitable set of trades, but because they are yet to be closed they are considered unrealised and don’t count towards the weeks performance in the report. Moving forward, let’s try to beat 39 weeks!
For those investors that follow our Telegram channel, you may have seen a couple of shots from the new office, mainly from the boardroom. We are settling in quite well and we have every intention to film a vlog in there, giving you all a tour. At the moment the fun social media extras like vlogs have been put on hold due to the large workloads and stresses already on the team but we are keen to bring them back the moment our workload reduces. Others have noticed some new faces in the office in a couple of the photos, you will be introduced to some of these new faces but not all wish to be so public as to be on vlogs or for their names to be out there and we must respect that, too. Keeping on the topic of workload, if you are following our social media, you might notice the management team are not on there as often as usual, this is due to the increased resources going to other tasks, but our awesome team of both professional and volunteered moderators are always there to help and we thank them for taking up the slack in our absence.
Feedback for the restructure has been collected and when time permits we will be able to go right through it all and take the ideas we think will fit to the legal guys and make sure it is all compatible. We met with an Australian blockchain expert (and CHT investor) who has been helping us by showing some of the possible smart solutions that could be implemented as part of the restructure. There is some concern from a few investors about the effect on taxation, we can look into the effects here in Australia but of course every country has its own tax laws so we will not be able to give any advice on this. You will be updated once there is movement here.
Now in quite unrelated news, I have permission from our long term and much loved social media moderator, Mr. ANC, to announce to you all some very special news. On behalf of all the Countinghouse Team and I am sure all our investors as well, we would like to congratulate ANC on managing to convince the love of his life to marry him this weekend! Absolutely wonderful news. Hopefully won’t be too long and there will be baby ANCs in the world (I suppose you would just use lowercase for babies ‘anc’ for example). So if you have not done so already, please take to Telegram and join us in wishing him a happy wedding day and a marvellous life with his new wife. Well done ANC!
Love to leave the letter on a high note, so that’s all from me until next week. Have a happy and safe weekend (especially ANC) and thanks for taking the time to read the report.
Market Activity Summary
Market Data Source: Thanks to @BazzWatkins