ResearchPerformance Update (October 2020)

Performance Update (October 2020)

Nov 2, 2020

Flagship is up +20% YTD through October, outperforming the S&P 500 which is up +3% YTD.

Opportunities is up +5% from inception through October, outperforming the Russell 2000, which fell -3% over the same time period.

Below is a full recap. As always, let us know if you have any questions.


In recent weeks, we've seen a rapid market sell-off creating an attractive entry point for new capital. This sell-off was driven by macro concerns related to COVID-19 case growth, lack of new stimulus, and risk-off sentiment in Tech.

The result: a 10%+ correction in both Flagship and Opportunities. This appears to be an attractive time to add new capital to Titan, as we'll explain below.

Flagship

Our Flagship strategy is up +20% YTD after fees (aggressive risk profile), after a -2% decline in October amidst the broad market sell-off.

By comparison, the market has had a 3% return over the same time period, while advisors such as Wealthfront and Betterment have shown losses.

Flagship YTD Return

Represents comparative year-to-date returns for Titan Flagship (after fees) through October 2020. See full disclosures here.

Opportunities

Our Opportunities strategy is up +5% since inception after fees (aggressive risk profile), after declining -4% in October. This meaningfully outperformed the Russell 2000 benchmark, which fell -3% over that period.

Opportunities Total Return

Represents inception-to-date returns for Titan Opportunities (after fees) through October 2020. See full disclosures here.

We believe Opportunities (which focuses on smaller stocks) is the perfect complement to our Flagship strategy (which focuses on larger stocks). Especially after the recent sell-off, you should have exposure to this strategy.

In the mobile app, click the + button on the app navigation bar > choose your desired account > enter your desired investment amount > toggle to Opportunities.

Key Performance Drivers

Flagship and Opportunities shared some key drivers of returns last month:

1) Macro Concerns. A resurgence in COVID-19 cases and the lack of fiscal stimulus ahead of the election drove many investors to flee from equities.

2) Rotation Out of Tech. Weakness in growth stocks (especially Big Tech) as strong Q3 results were not enough to beat already-high expectations.

3) Hedges. Our hedges rose +5%, mitigating losses as market indices fell.

In mid-October, we published our election memo ("Prepare to capitalize on volatility") in which we anticipated much of the market sell-off we're now seeing. You can find this memo linked at the top of this screen. TLDR: you should consider adding capital on this pullback.

See disclosures.

October Movers

Flagship

Top Performers: Schwab (SCHW) +13% Twilio (TWLO) +13% Alphabet (GOOG) +10%

Worst Performers: Visa (V) -9% Mastercard (MA) -15% Fidelity Info Services (FIS) -15%

Opportunities

Top Performers: Collectors Universe (CLCT) +11% Roku (ROKU) +7% Upwork (UPWK) +6%

Worst Performers: Anaplan (PLAN) -12% Redfin (RDFN) -16% Fastly (FSLY) -32%

In case you missed it, attached is a recent update on Opportunities from our Chief Investment Officer.

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