May 2024 Portfolio Review
Mythic Prop Portfolio
Disclaimer: Mythic Market Research, Inc. is a proprietary trading business. Our posts, while primarily educational, also aim to entertain. Please note that they are not intended to be financial advice.
Hey, summer is here! The sun is shining, and it's time to go for hikes, play golf, and research to improve or build a strategy for 2025. Yes, that's right! We're already thinking about next year, and you should too. We focus on simplicity but don't equate that with trading being easy. Summer is a great time to step back, look over processes, and work to plug the holes. This game is about incremental improvement and refinement. It takes time under pressure to improve an investment process. With that said, I hope everyone is doing well. Now, to the good stuff.
Consolidated Portfolio Performance May 2024: +2.75%
Wand OG Performance for May: +8.89%
Mythic Zoo Performance for May: -4.01%
Having two consecutive winning months after facing a significant drawdown is fantastic. Understanding that the returns distribution is random helps us trade systematic strategies with a significant advantage. Setting the right expectations allows for mental strength. We are delighted with the performance so far and particularly proud of our mental resilience. We have stayed committed to our plans and have not altered our strategies. While the temptation to switch strategies is always present, we have been able to resist that urge.
Consolidated Portfolio Since Inception: +8.80%
Wand OG Portfolio Since Inception: +16.74%
Zoo Portfolio Since Inception: -2.30%
Final Thoughts
With Wand OG showing a fantastic recovery and Mythic Zoo lagging in performance, it's natural to question the rebalance we did at the end of Q1. It's a bit frustrating and has dragged our performance in the short run. The key phrase to remember is "short run." Our team always wants to make the best decisions for long-run objectives, and that typically is accompanied by short-term pain. To speak to this, I can’t remember when we started a new account without instantly going into drawdown. There always seems to be a little test to see how badly you want success with a strategy.