Daniel Shvartsman

@danielshortman.bsky.social

101 Followers 148 Following

Writer, reader, podcaster, registered investment advisor, traveler. Restless and short. Shortinvestingguide.com Visiblecities.substack.com https://middlecoastinvesting.com/performance-disclosures/

A performance table showing Middle Coast Investing's performance compared to relevant indices for Q1 2026. Our U.S. Portfolios were down 3.9% and our Core U.S. Portfolios down 4.3%, vs. S&P 500 down 4.6% and the Russell 2000 up 0.6%. Our European portfolio was down 2.9% vs. Euro Stoxx 50 down 3.8% and DAX down 7.4%.
BKNG CEO Glenn Foley responding to a question about agentic booking: Look, we've been competing, so to speak, with a top-of-the-funnel player who's very big for a very long time and people go there, but yet then they come to us direct many of them. Why? Because we are offering them something of value. That's what I believe is going to continue. And by the way, it's been very successful for that large person at the top of the funnel, Google. We've both done very well. They've made very good money setting up an auction format for taking advertising, and we have been more than happy to pay a lot of money as have competitors of us. It's worked out really well for them. It's worked out really well for us. And by the way, some of these other large language models when they're looking at this, they may say, that's the right way to do it. Not go down the funnel, don't become a merchant of record, take it high above, don't deal with the mess of the day-to-day in and out that we have to deal with all the time, successful for us, successful for them. I think that's the way it's probably going to go in the end, but that's my opinion.
Table showing BKNG valuation vs. ABNB and EXPE for 2025.
A performance table for Middle Coast Investing, showing our Q4 performance of 2.7% (core portfolios of 1.9%) vs. the S&P 500 at 2.3% and the Russell 2000 at 1.9%. For the year, we finished up 16.9% (up 20.4% in core portfolios, explained in our letter), vs. 16.4% for the S&P 500 and 11.3% for the Russell 2000. The table also shows performance back to 2020, pre-dating when Middle Coast Investing actually launched. See performance disclosures in our last post of this thread.
Financial times headline: “Private jet traffic jam on way to Lisbon summit forces moguls to land in Spain.” Next to headline, an ad: Jetex: fly private
Excel table showing Middle Coast Investing performance in Q3 - 9.6% in U.S. portfolios and 10% in core U.S. portfolios - vs the S&P 500 (7.8%), Russell 2000 (12%), S&P 600 (8.7%), and Nasdaq (11.2%). Also shows European portfolio performance (5.5%) vs. Euro Stoxx 50 (4.3%) and DAX (-0.1%). Many other figures, including performance dating to 2020.
Table showing Middle Coast Investing Portfolio performance in Q2 2025 vs. the overall market. S&P 500 is up 5.5% year to date, and the Russell 2000 is down 2.5% (as of June 30th); our overall U.S. portfolios are up 3.9% and our core U.S. portfolios are up 7.5%. Our European portfolio is up 18% vs. the Euro Stoxx 50 at 8.3% and the DAX at 20.1%.
An old pillow(?) with economy written on it in front of an antique stove.
Pancetta eggs onions potatoes half sandwich with peanuts cake with salt in background.
Street clock in Valencia showing 12:33, for a photo taken six hours later, that could only be posted another 90 minutes later, due to the peninsula wide power outage.
A table showing our Q1 portfolio performance vs. key indices. U.S. portfolios were down 3.7% vs. the S&P 500 being down 4.6%; our core portfolios were down .7% vs. that S&P number and 9.8% for the Russell 2000; our European portfolios were up 9.2% vs. 7.2% for the Euro Stoxx 50 and 11.3% for the DAX.
La cremá for Fallas in Valencia
Fallas in Valencia
Fallas in Valencia
Fallas in Valencia
Fallas in Valencia
Fallas in Valencia
The main falla in Valencia
EDGAR not working at the moment, the Apple page down. Routine maintenance or 'this is fine'?
A table presenting investing results for Q4 2024, full year 2024, and the four years preceding, compared to the S&P 500, Russell 2000, S&P 600, and Nasdaq (as well as a European portfolio compared to the Euro Stoxx 50 and the DAX). Our core portfolios finished 2024 at 11.2%, ahead of the Russell 2000 (10%) but behind the S&P 500 (23.3%).
From Pygmalion: Mrs. Higgins: but what has my son done to you, Mr. Doolittle? Doolittle: Done to me! Ruined me. Destroyed my happiness. Tied me up and delivered me into the hands of middle class morality.
A black cat on a chest, next to an open record player and in front of a mostly blue and red painting.
A chart or graphic with Projected growth on x axis and unit volume on y axis and a lot of bubbles of different sizes representing more/less value, with the heading 'Strategic Segmentation'. Indeed.
A giant vat of garbanzos con pollo
A box of “Nerf” eau de toilette
A large porchetta sandwich with a beer and a cafe del tiempo for brunch.
A black cat lying on a vinyl record case, specifically the Pixies’ Surfer Rosa
Black cat next to a cat power album
A bottle of red wine called “crápula”
Fat calico cat watching Reacher from top of record cabinet.
Screenshot of a column title reading, "Why your kids are obsessed with axolotls".
Six vinyl records all originally released in the 90s or 00s.
Calico cat laying down and looking up from a computer keyboard