Methodology

The strategy

Each quarter, 10 stocks are published. Each gets an equal 10% weight and is held until the end of the quarter. At the next quarter the portfolio is reset so the 10 new picks are again 10% each.

Timing

Picks are published after the market closes on the first trading day of each quarter. This tracker measures what a follower could actually achieve from that post:

• Entry: the opening price on the second trading day of the quarter.
• Exit: the closing price on the last trading day of the quarter.

Prices

• Daily value: the closing price on each trading day between entry and exit.
• Prices are adjusted for stock splits. Dividends, fees and taxes are not included (price return only).
• If a stock is acquired or delisted mid-quarter, its final price is held until the quarter ends.

Benchmarks

QQQ and SPY follow exactly the same rules as the picks: bought at the open on the buy date and valued at daily closes until the sell date. Between quarters (after the sell date and before the next buy) all three are flat.

Returns

• Quarterly returns compound: each quarter starts from the previous quarter's ending value.
• A custom range runs from the close of the last trading day before the start date to the close of the end date. Non-trading dates are moved to the nearest trading day and the dates used are shown.
• Max drawdown is the largest peak-to-trough fall within the selected range.