MDG Capital was up 64% last year following a 300+% year in 2021.
We used less leverage last year.
In 2021, during the great bull run, I was utilizing 3x+ leverage pretty consistently.
Last year, it varied but it was definitely less.
I remember selling most everything in early 2022 and calling my brother-in-law looking for a house to flip (he is a contractor) as stocks were greatly overvalued. We never ended up flipping a house, but I was able to catch a sizeable bullish gold trade in the early part of the year before it cratered. I also started shorting mid last year, which I do not like because I know people are getting hurt when stocks go down, but I have a responsibility to my family and clients to make money.
In late September, I started going long again as price action, techincials starting to look and feel different, along with valuations becoming very reasonable.
Looking ahead to 2023, I will be looking on the long side for the most part, unless something changes with the fundamentals.
Happy New Year and hope everyone at TT has a great 2023!