It’s been a beautiful month. I’ve been about a bit, taking in Lincoln, the New Forest, and Oxford as well as enjoying London town itself. The Iran conflict rumbles on, with the USA and Israel having effectively finished the military engagement. Markets have had a very strong month – bouncing back from the March drop completely. The pound rose (though the AUD rose more). The standout story though was Asian equities, which rose around 14% in the month, with the AI boom lifting Asian semiconductor players and a sense of relief about the Straight of Hormuz (which most clobbers Asian energyt supply chains). US equities also did well, though this was largely due to the drop they suffered in March. The ‘SaaS-pocalypse’ continues but big tech has shown resilience. Google, my biggest holding, is up at record highs – how I look dumb for selling out at $265 only a few months ago. My portfolio rose 8.7%, which was the strongest single month since I began monthly tracking over 13 years ago.…
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