Jaswinder Johal

eToro Champion Investor | Banking background | MSc Maths and Info Systems

Strong companies, value opportunities, dividends and compounders.

[Jaswinder Johal @TheHiddenMoat]

𝗢𝗖𝗧𝗢𝗕𝗘𝗥 𝗣𝗢𝗥𝗧𝗙𝗢𝗟𝗜𝗢 𝗨𝗣𝗗𝗔𝗧𝗘 | 𝗣𝗔𝗧𝗜𝗘𝗡𝗖𝗘 𝗔𝗡𝗗 𝗣𝗥𝗢𝗚𝗥𝗘𝗦𝗦

1st November 2026

October was a pleasing month for my portfolio, gaining +10.64% and bringing the return for the year so far to +28.06%. After September’s decline of −6.93%, the recovery was welcome. It was also a reminder that investing requires patience through both the good months and the difficult ones.

𝗧𝗛𝗘 𝗪𝗜𝗗𝗘𝗥 𝗣𝗜𝗖𝗧𝗨𝗥𝗘 Markets delivered very different results: • My portfolio: +10.64% in October • SPX500: −1.00% • Bitcoin: −7.94% • Gold: −6.90%, from 4,159 to 3,872 • Oil: +13.12%, from 89.74 to 101.51 I’m encouraged by the portfolio’s progress. Oil also had a strong rise, while gold, Bitcoin and SPX500 declined over the periods shown. These are different assets with different risks, but they provide some useful context.

𝗥𝗘𝗙𝗟𝗘𝗖𝗧𝗜𝗡𝗚 𝗢𝗡 𝗦𝗘𝗣𝗧𝗘𝗠𝗕𝗘𝗥 I was genuinely quite disturbed by September’s decline. I reviewed each holding to see whether I had missed a weakness or made a mistake in my analysis. I couldn’t identify any particular weakness in the underlying businesses, so my assessment was that the decline was more likely driven by market sentiment. That didn’t mean I was certain I was right, but I decided to keep the portfolio intact and add to some of the weaker positions where I still had confidence in the investment case. October’s recovery was reassuring, although the price recovery alone doesn’t establish that my assessment was correct. The businesses still need to deliver.

𝗞𝗘𝗘𝗣𝗜𝗡𝗚 𝗣𝗘𝗥𝗦𝗣𝗘𝗖𝗧𝗜𝗩𝗘 A good month is something to appreciate, but it is only one month. September’s fall deserves just as much attention as October’s gain. Neither changes the need to review the businesses carefully and question whether my reasons for owning them still hold. My approach remains focused on profitable businesses, sustainable dividends, earnings growth and sensible valuations. I invest for the long term, without leverage, and aim to give the businesses I own time to deliver. There will be mistakes and weaker periods along the way. I cannot control when the market recognises value, but I can control the price I pay, the risks I take and how honestly I assess each holding. Thank you to everyone who follows, contributes to the discussions or copies my portfolio. I appreciate your trust and the thoughtful conversations we have here.

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𝗧𝗛𝗘 𝗗𝗜𝗦𝗖𝗜𝗣𝗟𝗜𝗡𝗘𝗗 𝗜𝗡𝗩𝗘𝗦𝗧𝗢𝗥 𝗙𝗥𝗔𝗠𝗘𝗪𝗢𝗥𝗞
𝗤𝗨𝗔𝗟𝗜𝗧𝗬 • 𝗗𝗜𝗦𝗖𝗜𝗣𝗟𝗜𝗡𝗘 • 𝗖𝗢𝗠𝗣𝗢𝗨𝗡𝗗𝗜𝗡𝗚

Markets will always produce volatility. Compounding rewards discipline

[Jaswinder Johal @TheHiddenMoat]

@DrunkDividends brilliant response, and so cheerfully done. I do like how it turns the offer around without any fuss, which is quite a gentle way to handle an unsolicited pitch. Do you find replies like that ever get a response back

[Jaswinder Johal @TheHiddenMoat]

@CalebBears1 great summary, thanks for laying it out so neatly. a bye week is strange like that, you can only watch and hope. the division games still to come will probably decide plenty

[Jaswinder Johal @TheHiddenMoat]

@BrandonWealth nice concise setup, the comparison with last year's US$0.63 gives helpful context. fundraising momentum feels like the thread that ties the rest together, since it feeds future fees. hope the print goes your way

[Jaswinder Johal @TheHiddenMoat]

@kroky_investora great breakdown, looking beyond the US is a thoughtful angle. Nu going from 318.9 million to over 19 billion in revenue is remarkable. Currency swings in these regions are probably worth keeping in mind too

[Jaswinder Johal @TheHiddenMoat]

@TheBullTheBear1 that gif made me smile, and the enthusiasm is lovely. nvidia is a remarkable business, though keeping a little aside for life's surprises means you are never forced to sell at a bad moment. best of luck

[Jaswinder Johal @TheHiddenMoat]

@BullMarketBoss really like the mindset behind this post. Whey with creatine is a solid combination, and I'd add that regular water and decent sleep seem to make any supplement work better

[Jaswinder Johal @TheHiddenMoat]

@mehul_n_trivedi great to see someone looking beneath the headline numbers. growth at that pace is strong, and I agree the quality of profit matters as much as its size, especially how much comes from core operations

[Jaswinder Johal @TheHiddenMoat]

@InvestwithDoc this looks wonderfully homely and satisfying. I especially like the sauce pooled on the plate for dipping, it makes the chicken look even more tempting

[Jaswinder Johal @TheHiddenMoat]

@atypinvestor this made me smile, really well put. a lot of us say we would buy the dip, but the real test is doing it while the headlines are still moving. conviction always looks clearer in hindsight than on the day

[Jaswinder Johal @TheHiddenMoat]

@KingMakerIQ really nice share, the recovery here is striking. Sharp wipeouts can turn quickly, and it will be interesting to see how price behaves as it gets closer to that previous high

[Jaswinder Johal @TheHiddenMoat]

@dividendvision what a brilliantly staged image, the detail in the glass case and the gold framing really sells the idea. it makes you think how a company's story can become part of its legacy over time

[Jaswinder Johal @TheHiddenMoat]

@AlistairBrooksH great to see this laid out so clearly, thank you. Having four to six months of essentials in reserve sounds like a calm and practical way to build resilience, especially with shipping routes in focus

[Jaswinder Johal @TheHiddenMoat]

@CalebBears1 lovely breakdown, and good to see Bush get proper credit for a strong night. Winning despite five turnovers says a lot about how well the defence held things together

[Jaswinder Johal @TheHiddenMoat]

@MatthewSpositi Spot on Matt !!

[Jaswinder Johal @TheHiddenMoat]

𝗛𝗼𝘁𝘁𝗲𝗿 𝗨𝗦 𝗖𝗣𝗜, 𝗦𝘁𝗲𝗮𝗱𝗶𝗲𝗿 𝗛𝗮𝗻𝗱𝘀

11th November 2026

Yesterday, the October CPI came in at 0.4% when 0.3% was expected, and core rose 0.3% for the third month running. Energy, food and shelter all played their part. Within hours a Decembr rate hike was all but fully priced, the 10 year Treasury yield pushed towards 5%, and tech led the market lower.

I was thinking about it over my coffee this morning. CPI day always creates a feeling of a knot in my stomach, because rising rates test patience. Then I went through my holdings and asked the only question that really matters: can these businesses keep raising prices and growing their dividends? For most of them the answer is still yes.

Higher yields do make slow, bond like stocks less appealing, and I will be watching those closely. But I am not selling. I am waiting for the PCE data later this month
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𝗧𝗛𝗘 𝗗𝗜𝗦𝗖𝗜𝗣𝗟𝗜𝗡𝗘𝗗 𝗜𝗡𝗩𝗘𝗦𝗧𝗢𝗥 𝗙𝗥𝗔𝗠𝗘𝗪𝗢𝗥𝗞
𝗤𝗨𝗔𝗟𝗜𝗧𝗬 · 𝗗𝗜𝗦𝗖𝗜𝗣𝗟𝗜𝗡𝗘 · 𝗖𝗢𝗠𝗣𝗢𝗨𝗡𝗗𝗜𝗡𝗚

Markets will always produce volatility. Compounding rewards discipline

[Jaswinder Johal @TheHiddenMoat]

@PatrikBatCrypto haha - no fomo! and keeping those fingers off the mouse

[Jaswinder Johal @TheHiddenMoat]

@sebiisb thanks sebi

[Jaswinder Johal @TheHiddenMoat]

@InvestJourneyX always enjoy your morning rundowns, they make the market easy to read. Nasdaq leading suggests the appetite for AI names is still there, which is nice to see. Good to see BTC holding up too as someone who owns some

[Jaswinder Johal @TheHiddenMoat]

@AdamosHad nice to see someone focus on the quality of the cash rather than just the headline. prepayments on assets already paid off should help balance sheet flexibility, which seems useful for a capital hungry business

[Jaswinder Johal @TheHiddenMoat]

@CalebBears1 great find, and lovely to see someone dig this deep into the numbers. the Broncos example shows a rough turnover margin doesn't have to cap a season, though cleaning it up would make the Bears even harder to beat

[Jaswinder Johal @TheHiddenMoat]

@AlistairBrooksH appreciate the update, it is a useful one for anyone following energy. much will depend on how quickly production and export infrastructure can handle higher volumes, and that tends to take time