I took some recent small profits here- then averaged down- happy...

I took some recent small profits here- then averaged down- happy with 3.65 average. Would be happy to increase % of portfolio if it continues to fall.

I learned the hard way not to wait too long for the first entry. Taking a really good price available can be better in the long run than waiting for the perfect price.

I like the way that SGP do things and their assets- and the way that they shift the composition of their assets as trends change. This could go down as the macro stays down for a while- but when migration and real assets become a thing again- the current SP and backing assets could look real cheap at some stage.

A given amount of debt loses its real value due to inflation- there would be a technical way of saying that. The thinking back in the days of high inflation and high interest rates was to buy the toys and cop the debt and let inflation and increase in revenues take care of the debt. That went real well for a while- until it did not. The average punter using debt to buy income producing toys did well- but the smarter people in the room and the greedy often went belly up.

Something like that. You know what I mean. Anyway, SGP came out of previous downturns in good condition and picked up good assets along the way.

IMHO DYOR