With my 3rd financial year investing coming to an end I wanted to take a look back and review my year, my performance and more importantly my strengths and weaknesses. Due to having multiple portfolios and constant irregular inflows and outflows of capital I don’t track my specific performance so this will be a more general look. The first half of the year up until December I had my best period of performance in my history. This was due to a combination of favourable financial conditions (long illiquid small cap value with a large short portfolio as stocks collapsed) combined with leveraged, poor risk management that naturally lead to outperformance on the upside (while it was working). I basically gave these entire returns (and a bit more) back in January as we had a short squeeze the magnitude of which has not been seen since Feb 2021. While I was always going to underperform during this period, poor risk management combined with lack of awareness (I was on holidays at the time) led to a big underperformance and I reviewed my strategy and adjusted. I have made it back in the following months and ended the year strong with high concentration in Match.com and Ossia International which have both performed very well recently. I’m proud of my performance this year and while I still have lots to work on I feel as if I’m starting to see the fruits of my labour. My performance in the last 3 months has been especially solid considering many long/short portfolios significantly underperformed during this period.