thats an interesting table @lostthe S&P is down 9.2% so you can...

thats an interesting table @lost
the S&P is down 9.2% so you can eyeball which stocks are doing worse and which are providing protection.
some observations:

1 - in a 9% down market i would expect the fund to be down 4-5% given the 50% downside protection, but this is not the case here. i question whether there is true downside protection as the emerging data suggets otherwise that it is actually higher beta, not lower.

2 - the fund looks to be under performing the S&P around 1%. if hamish predicted and wanted a downturn to prove the strategy, and we clearly now have experienced one in Jan, why isnt the fund out performing?

3 - the highest conviction positions are down the most. msft, googl, nflx, sbux, yum

4 - stocks that were supposed to be defensive like sbux, yum, ice, crown castle are actually down more than the market.