<script data-pm-proxy="intercept"></script><?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[Ye Olde Holborn's Substack]]></title><description><![CDATA[Trading & investing ]]></description><link>https://yeoldeholborn.substack.com</link><image><url>https://substackcdn.com/image/fetch/$s_!tsbA!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F58cb9e38-de49-4bea-84b3-da05434c9de5_558x558.png</url><title>Ye Olde Holborn&apos;s Substack</title><link>https://yeoldeholborn.substack.com</link></image><generator>Substack</generator><lastBuildDate>Wed, 02 Sep 2026 07:12:58 GMT</lastBuildDate><atom:link href="/__u/yeoldeholborn.substack.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Ye Olde Holborn]]></copyright><language><![CDATA[en-gb]]></language><webMaster><![CDATA[yeoldeholborn@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[yeoldeholborn@substack.com]]></itunes:email><itunes:name><![CDATA[Ye Olde Holborn]]></itunes:name></itunes:owner><itunes:author><![CDATA[Ye Olde Holborn]]></itunes:author><googleplay:owner><![CDATA[yeoldeholborn@substack.com]]></googleplay:owner><googleplay:email><![CDATA[yeoldeholborn@substack.com]]></googleplay:email><googleplay:author><![CDATA[Ye Olde Holborn]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[Ye Olde Holborn's Opportunistic Trades]]></title><description><![CDATA[August 2026 Update $GLDI.L $GLDE.L $SLVI.L $SLVY.L $U.UN]]></description><link>https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-683</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-683</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Tue, 01 Sep 2026 06:39:16 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!T4LJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<blockquote><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!T4LJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!T4LJ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg" width="1456" height="821" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:821,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:351997,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/213553362?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!T4LJ!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F512684ea-fa17-4e62-b1c1-4ff38d3d8892_1872x1056.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>About YOH&#8217;s Opportunistic Trades</strong><br><br>I started this portfolio on X back in April 2025 as the Zero Tax Portfolio, it has now been rebranded as Opportunistic Trades &amp; moved over to Substack. Going forward this will feature short to medium term trades with more defined setups/catalysts. Note, trading &amp; investing is personal. I show some of what I do for information &amp; entertainment purposes. Always do your own research. </p><p>Check out YOH&#8217;s Value Vault for longer term global value investing with the intention of building wealth over time. To date I&#8217;ve added one business into the Vault, I&#8217;ll be looking add more over the coming months. </p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;d5e5c46c-924d-4339-8490-56b3d0c0b896&quot;,&quot;caption&quot;:&quot;The plan here is simple - build a value investing portfolio of publicly traded businesses that over time will reward me for owning them. I&#8217;m starting out with &#163;20,000 in cash to get me going &amp; I&#8217;ll be adding &#163;250 per month to accumulate &amp; compound wealth over time.&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;lg&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;Ye Olde Holborn's Value Vault&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:499592365,&quot;name&quot;:&quot;Ye Olde Holborn&quot;,&quot;bio&quot;:&quot;Part time shit poster on X&quot;,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4d458268-a71e-4c32-90c3-b76c7fb6d196_558x558.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-05-13T06:22:05.769Z&quot;,&quot;cover_image&quot;:&quot;https://substackcdn.com/image/fetch/$s_!UGNr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbe3958d-e8b4-4b56-aeee-d5cb6c8c6624_1360x768.jpeg&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://yeoldeholborn.substack.com/p/ye-olde-holborns-value-vault&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:195366207,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:4,&quot;comment_count&quot;:0,&quot;publication_id&quot;:8750282,&quot;publication_name&quot;:&quot;Ye Olde Holborn's Substack&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!tsbA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F58cb9e38-de49-4bea-84b3-da05434c9de5_558x558.png&quot;,&quot;belowTheFold&quot;:false,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><p><br><strong>Market Overview</strong><br>A good August for the S&amp;P500 with strong tech &amp; AI related earnings. US equity valuations remain too elevated for me to get enthusiastic. China might be worth a look though (if you can stomach it).</p><p><strong>August 2026 Trading Update</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!Nucm!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!Nucm!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 424w, /__u/substackcdn.com/image/fetch/$s_!Nucm!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 848w, /__u/substackcdn.com/image/fetch/$s_!Nucm!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 1272w, /__u/substackcdn.com/image/fetch/$s_!Nucm!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!Nucm!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png" width="658" height="576" 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/__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 424w, /__u/substackcdn.com/image/fetch/$s_!Nucm!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 848w, /__u/substackcdn.com/image/fetch/$s_!Nucm!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 1272w, /__u/substackcdn.com/image/fetch/$s_!Nucm!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fc617be11-5e9e-461c-87b0-e019cff38c38_658x576.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br><br><strong>IncomeShares Gold + Yield ETP GLDI.L(USD) &amp;</strong><em><strong> </strong></em><strong>GLDE.L (GBP)</strong> (London)<br><br>I doubled up on this trade last week (I now own the USD &amp; GBP version), I like the precious metals here &amp; think this is an interesting way to play them in addition to my core position of just being long the metals. </p><p></p><p><strong>IncomeShares Silver + Yield ETP SLVI.L(GBP) &amp;</strong><em><strong> </strong></em><strong>SLVY.L (USD)</strong> (London)</p><p>I also added the Silver+ Yield fund last week along with more of the Gold+ Yield fund. Exactly the same trade thesis as gold, but with extra spice.</p><p>Check out last weeks Trade Alert for my full thoughts.<br></p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;5e6ca64c-b48f-4405-8788-76e80e1a2ecd&quot;,&quot;caption&quot;:&quot;I already own the gold version of this instrument in here which has pretty much done what I wanted it to do so far, so I thought I&#8217;d give silver a go &amp; I also added more of the gold for good measure (but the GBP version this time for no other reason than I had spare GBPs in my account). Investing is personal, I share some of what I do for information &amp; &#8230;&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;lg&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;&#9888;&#65039;Opportunistic Trade Alert&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:499592365,&quot;name&quot;:&quot;Ye Olde Holborn&quot;,&quot;bio&quot;:&quot;Global value investor&quot;,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4d458268-a71e-4c32-90c3-b76c7fb6d196_558x558.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-08-27T15:59:21.004Z&quot;,&quot;cover_image&quot;:&quot;https://substackcdn.com/image/fetch/$s_!fEre!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://yeoldeholborn.substack.com/p/opportunistic-trade-alert&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:212707394,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:4,&quot;comment_count&quot;:1,&quot;publication_id&quot;:8750282,&quot;publication_name&quot;:&quot;Ye Olde Holborn's Substack&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!tsbA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F58cb9e38-de49-4bea-84b3-da05434c9de5_558x558.png&quot;,&quot;belowTheFold&quot;:false,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><p></p><p><br><strong>Sprott Physical Uranium Trust U.U U.UN</strong> (Toronto SE), I&#8217;ve left this in although I have no position in here. The discount to NAV is 6% at the time of writing, the trend looks positive now (my trend following algo is currently long for the first time in a while) &amp; Uranium buyers will be returning from their vacations, historically this gives the price a seasonal boost (no guarantees obvs) so for me this is interesting &amp; worth keeping an eye on. Full disclosure I&#8217;m currently using below the market put options sold against this instrument to generate income.  <br></p><p><br><em>For details of historic public trades search on X using the tickers, all trades from May 2026 will be posted on here</em></p><p><br><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p></blockquote><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[⚠️Opportunistic Trade Alert]]></title><description><![CDATA[BUY: INCOMESHARES SILVER+ YIELD ETP, TICKER $SLVI & SLVY (USD version) & BUY: INCOMESHARES GOLD+ YIELD ETP, TICKER $GLDE & GLDI (USD version)]]></description><link>https://yeoldeholborn.substack.com/p/opportunistic-trade-alert</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/opportunistic-trade-alert</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Thu, 27 Aug 2026 15:59:21 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!fEre!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!fEre!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!fEre!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg" width="1360" height="768" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:768,&quot;width&quot;:1360,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:246069,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/212707394?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!fEre!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F770530a7-9e31-4ed2-b145-a4ec9a3fe8c2_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>I already own the gold version of this instrument in here which has pretty much done what I wanted it to do so far, so I thought I&#8217;d give silver a go &amp; I also added more of the gold for good measure (but the GBP version this time for no other reason than I had spare GBPs in my account). Investing is personal, I share some of what I do for information &amp; entertainment. Always do your own research.</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p><p><strong>How These Products work</strong></p><p>I got AI to write a brief explainer for the uninitiated on how these instruments work:</p><p><em><span>GLDE.L and SLVI.L are IncomeShares covered-call ETPs listed in London. They give you gold or silver exposure plus monthly income, at the cost of capped upside in strong rallies.</span></em></p><p><em><span>portfolioslab.com</span></em></p><p><em><span>What they are</span></em></p><ul><li><p><em><span>GLDE.L &#8212; IncomeShares Gold + Yield ETP (GBP-traded). Holds SPDR Gold Shares (GLD) and sells short-dated call options on it.</span></em></p><p><em><span>portfolioslab.com</span></em></p></li><li><p><em><span>SLVI.L &#8212; IncomeShares Silver + Yield ETP (GBP-traded). Same idea, but with iShares Silver Trust (SLV). There is also a USD ticker, SLVY.L.</span></em></p><p><em><span>portfolioslab.com</span></em></p></li></ul><p><em><span>Both are issued by Leverage Shares / IncomeShares, physically replicate via the underlying ETFs, and pay monthly distributions. Expense ratios are low (around 0.35%). They are relatively new (GLDE from mid-2024, SLVI from mid-2025).How the strategy works</span></em></p><ol><li><p><em><span>The ETP owns the gold or silver ETF (GLD or SLV). So NAV still moves with the metal&#8217;s price.</span></em></p><p><em><span>incomeshares.com</span></em></p></li><li><p><em><span>It sells out-of-the-money (OTM) call options on that holding&#8212;typically weekly, often targeting roughly 3&#8211;5% OTM. Buyers pay a premium for the right to buy the ETF at a higher strike.</span></em></p><p><em><span>etf.com</span></em></p></li><li><p><em><span>Those premiums (plus some interest on cash) are pooled and paid out monthly as income.</span></em></p></li></ol><p><em><span>If the metal stays below the strike at expiry, the option expires worthless, the ETP keeps the shares and the premium. If the metal surges past the strike, the option can be exercised: the ETP sells at the strike and forgoes further gains. That is the cap.Trade-off in practice</span></em></p><ul><li><p><em><span>Sideways or modestly up markets: income can be attractive and can cushion small declines.</span></em></p></li><li><p><em><span>Sharp rallies: you lag a plain gold/silver ETF because upside above the strike is given away.</span></em></p></li><li><p><em><span>Sharp sell-offs: you still lose on the metal holding; premiums only offset part of the drop. These are not capital-protected products.</span></em></p></li></ul><p><em><span>Gold and silver themselves pay no yield. These products overlay a systematic covered-call program so the position produces cash flow while keeping most (but not all) of the directional exposure. Yields vary with implied volatility and how far OTM the calls are written; they are not guaranteed.</span></em></p><p></p><p><strong>Trade Thesis</strong></p><p>My view is that we&#8217;re in the middle of a multi year precious metals bull run which has corrected &amp; is showing signs of basing/resuming (refer to the 5 year gold chart from TradingView.com). Gold is my preferred &amp; safer play, although silver adds a bit more spice.   </p><p>I am a gold/silver bull &amp; am already fully positioned in the metals. I see this as interesting way of trying to make a bit of money collecting the monthly yield should the metals tread water for a few months.</p><p></p><p><strong>Chart</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!nIvB!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 424w, /__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 848w, /__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 1272w, /__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!nIvB!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png" width="1318" height="598" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:598,&quot;width&quot;:1318,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:70826,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/212707394?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 424w, /__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 848w, /__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 1272w, /__u/substackcdn.com/image/fetch/$s_!nIvB!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F6dea7f61-029b-4d24-a40a-b6d6dab19956_1318x598.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p></p><p></p><p></p><p><strong>Key Risks</strong></p><p>Global recession - silver is an industrial metal &amp; demand would likely fall during a downturn, gold may also get liquidated in a drawdown/crisis.</p><p>The product itself is relatively new without a proven long term track record. This is no substitute for owning the real metals, this strategy would likely miss out on much of the gain should we get rapid price rises in the underlying metals which is by no means impossible.</p><p></p><p><strong>Conclusion</strong></p><p>With insane out of control/profligate governments &amp; overvalued equity markets I prefer this in terms of risk &amp; return than the 4% I&#8217;m currently getting on my cash</p><p></p><p></p><p><strong>Contract Notes</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!od3A!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!od3A!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg" width="828" height="1385" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1385,&quot;width&quot;:828,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:350889,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/212707394?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!od3A!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F5fc480c5-c6c5-4fe8-b64a-55f77cb1c223_828x1385.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!H5Nv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!H5Nv!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!H5Nv!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!H5Nv!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!H5Nv!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!H5Nv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg" width="828" height="1371" 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/__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!H5Nv!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!H5Nv!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!H5Nv!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa8179582-9160-4255-8e83-7d4d8ef12794_828x1371.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[⚠️Investment Alert]]></title><description><![CDATA[BUY: Amsterdam Commodities $ACOMO.AS]]></description><link>https://yeoldeholborn.substack.com/p/investment-alert</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/investment-alert</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Tue, 04 Aug 2026 15:26:19 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!YnHv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!YnHv!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!YnHv!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg" width="1360" height="768" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:768,&quot;width&quot;:1360,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:222510,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/199736574?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!YnHv!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b74cdea-a4bf-4e02-94f5-a1936578a944_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>This is the first addition into the Value Vault. I&#8217;ve not yet finalised the format so I've kept it very simple for now just to get started. Investing is personal, I share some of what I do for information &amp; entertainment. Always do your own research.</p><p></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p><strong>Why is Acomo going into the Value Vault?</strong></p><p>I like the plant based food ingredient sector (defensive with growth tailwinds)</p><p>The business is reasonably valued</p><p>Current dividend yield approximately 6% with a targeted 7% growth on top (organically and via acquisitions)</p><p></p><p><strong>Key Risks</strong></p><p>A botched acquisition</p><p>Commodity price volatility (they got burned by the cocoa price spike a couple of years back which in hindsight was a great buying opportunity)  </p><p></p><p><strong>Conclusion</strong></p><p>I&#8217;ve owned this business for several years now elsewhere and it has proved to be pretty boring, reliable and resilient which is exactly what I like. The current valuation isn&#8217;t bargain basement (not much is in this market without going out on the risk curve) there may well be more attractive entry points in the future which is great because I can always buy more.     </p><p></p><p><strong>Business/Trade Summary</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!Bs8F!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 424w, /__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 848w, /__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 1272w, /__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!Bs8F!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png" width="665" height="574" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:574,&quot;width&quot;:665,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:110712,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:true,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/199736574?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 424w, /__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 848w, /__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 1272w, /__u/substackcdn.com/image/fetch/$s_!Bs8F!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F0b1969aa-7c4d-47e1-aba3-173d8930fd86_665x574.png 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Contract Note</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!ilfI!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!ilfI!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!ilfI!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!ilfI!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!ilfI!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!ilfI!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg" width="828" height="1406" 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/__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!ilfI!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!ilfI!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!ilfI!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa6559593-e857-4bef-83d0-22d2e51f88b7_828x1406.jpeg 1456w" sizes="100vw" loading="lazy"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Ye Olde Holborn's Opportunistic Trades]]></title><description><![CDATA[July 2026 Update $GLDI.L $GLDE.L $U.UN]]></description><link>https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-743</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-743</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Sat, 01 Aug 2026 09:19:55 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!R8cX!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<blockquote><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!R8cX!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!R8cX!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg" width="1360" height="768" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:768,&quot;width&quot;:1360,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:214375,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/209352478?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!R8cX!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F870dbeac-a013-4a60-8f8c-7126838be664_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>About YOH&#8217;s Opportunistic Trades</strong><br><br>I started this portfolio on X back in April 2025 as the Zero Tax Portfolio, it has now been rebranded as Opportunistic Trades &amp; moved over to Substack. Going forward this will feature short to medium term trades with more defined setups/catalysts. Note, trading &amp; investing is personal. I show some of what I do for information &amp; entertainment purposes. Always do your own research. </p><p>Check out YOH&#8217;s Value Vault for longer term global value investing with the intention of building wealth over time. I&#8217;ve not added any companies into the vault yet so you&#8217;ve not missed anything, but rest assured those &#163;250s are racking up in the background.</p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;d5e5c46c-924d-4339-8490-56b3d0c0b896&quot;,&quot;caption&quot;:&quot;The plan here is simple - build a value investing portfolio of publicly traded businesses that over time will reward me for owning them. I&#8217;m starting out with &#163;20,000 in cash to get me going &amp; I&#8217;ll be adding &#163;250 per month to accumulate &amp; compound wealth over time.&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;lg&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;Ye Olde Holborn's Value Vault&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:499592365,&quot;name&quot;:&quot;Ye Olde Holborn&quot;,&quot;bio&quot;:&quot;Part time shit poster on X&quot;,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4d458268-a71e-4c32-90c3-b76c7fb6d196_558x558.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-05-13T06:22:05.769Z&quot;,&quot;cover_image&quot;:&quot;https://substackcdn.com/image/fetch/$s_!UGNr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbe3958d-e8b4-4b56-aeee-d5cb6c8c6624_1360x768.jpeg&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://yeoldeholborn.substack.com/p/ye-olde-holborns-value-vault&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:195366207,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:4,&quot;comment_count&quot;:0,&quot;publication_id&quot;:8750282,&quot;publication_name&quot;:&quot;Ye Olde Holborn's Substack&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!tsbA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F58cb9e38-de49-4bea-84b3-da05434c9de5_558x558.png&quot;,&quot;belowTheFold&quot;:false,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><p><br><strong>Market Overview</strong><br>We saw a modest decline for the S&amp;P500 during July with the AI Ponzi starting to look wobbly. Valuations remain sky high &amp; I&#8217;m not particularly enthusiastic about any ideas atm. </p><p><strong>July 2026 Trading Update</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!peQn!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 424w, /__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 848w, /__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 1272w, /__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!peQn!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png" width="672" height="570" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/ef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:570,&quot;width&quot;:672,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:148921,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/209352478?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 424w, /__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 848w, /__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 1272w, /__u/substackcdn.com/image/fetch/$s_!peQn!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fef4dca63-d9e9-4a55-aac3-cfd7c4dede80_672x570.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br><br><strong>IncomeShares Gold + Yield ETP GLDI.L(USD) </strong><em><strong>also GLDE.L(GBP)</strong></em> (London)<br><br>This is the only live position I have in here. Gold seems to have stabilised, I&#8217;ve got no idea if this is the bottom but for me it&#8217;s in the accumulation zone along with the other precious metals &amp; bitcoin (if you&#8217;re don&#8217;t already own any it could be a good time to consider picking some up) although I don&#8217;t see any immediate catalysts for a price rise, maybe we&#8217;ll see some action during the autumn. </p><p>This instrument has given me the gold exposure whilst cushioning some of the downside &amp; has outperformed the metal during this consolidation. Hopefully I&#8217;ll start to make some money if gold chops sideways or gently rises. <br><em>Full disclosure, I own plenty of gold (not paper shit) &amp; have never sold nor have any intention (within the foreseeable future) of selling a single ounce of it </em><br><br><strong>Sprott Physical Uranium Trust U.U U.UN</strong> (Toronto SE), The discount to NAV has widened out to 12% at the time of writing which is in buy territory for me. The price chart of the underlying Uranium (see below) has been flat since March, Uranium buyers will be back off vacation by September, historically this gives the price a seasonal boost (no guarantees obvs) so for me this is an interesting opportunity. Full disclosure I&#8217;m currently using below the market put options sold against this instrument to generate income.  <br></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!43uO!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 424w, /__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 848w, /__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 1272w, /__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!43uO!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png" width="828" height="563" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:563,&quot;width&quot;:828,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:45060,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/209352478?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 424w, /__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 848w, /__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 1272w, /__u/substackcdn.com/image/fetch/$s_!43uO!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F09b3504a-40ba-4c95-96c5-9ebfe8866d6f_828x563.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><em>Chart screenshotted from TradingEconomics.com</em><br><br><em>For details of historic public trades search on X using the tickers, all trades from May 2026 will be posted on here</em></p><p><br><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p></blockquote><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Ye Olde Holborn's Opportunistic Trades]]></title><description><![CDATA[June 2026 Update $GLDI.L $GLDE.L $U.UN]]></description><link>https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-eaf</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-eaf</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Wed, 01 Jul 2026 08:33:20 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!NfoS!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<blockquote><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!NfoS!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!NfoS!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!NfoS!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!NfoS!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!NfoS!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!NfoS!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg" width="1360" height="768" 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/__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!NfoS!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!NfoS!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!NfoS!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1cf2f49b-3acd-4bf0-a021-dff8ce782810_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>About YOH&#8217;s Opportunistic Trades</strong><br><br>I started this portfolio on X back in April 2025 as the Zero Tax Portfolio, it has now been rebranded as Opportunistic Trades &amp; moved over to Substack. Going forward this will feature short to medium term trades with more defined setups/catalysts. Note, trading &amp; investing is personal. I show some of what I do for information &amp; entertainment purposes. Always do your own research. </p><p>Check out YOH&#8217;s Value Vault for longer term global value investing with the intention of building wealth over time</p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;d5e5c46c-924d-4339-8490-56b3d0c0b896&quot;,&quot;caption&quot;:&quot;The plan here is simple - build a value investing portfolio of publicly traded businesses that over time will reward me for owning them. I&#8217;m starting out with &#163;20,000 in cash to get me going &amp; I&#8217;ll be adding &#163;250 per month to accumulate &amp; compound wealth over time.&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;lg&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;Ye Olde Holborn's Value Vault&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:499592365,&quot;name&quot;:&quot;Ye Olde Holborn&quot;,&quot;bio&quot;:&quot;Part time shit poster on X&quot;,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4d458268-a71e-4c32-90c3-b76c7fb6d196_558x558.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-05-13T06:22:05.769Z&quot;,&quot;cover_image&quot;:&quot;https://substackcdn.com/image/fetch/$s_!UGNr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbe3958d-e8b4-4b56-aeee-d5cb6c8c6624_1360x768.jpeg&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://yeoldeholborn.substack.com/p/ye-olde-holborns-value-vault&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:195366207,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:4,&quot;comment_count&quot;:0,&quot;publication_id&quot;:8750282,&quot;publication_name&quot;:&quot;Ye Olde Holborn's Substack&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!tsbA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F58cb9e38-de49-4bea-84b3-da05434c9de5_558x558.png&quot;,&quot;belowTheFold&quot;:false,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><p><br><strong>Market Overview</strong><br>After a strong May the S&amp;P500 chopped sideways during June, valuations remain sky high, there are always opportunities out there but nothing to get me excited. I prefer to sit idly on the sidelines for now. </p><p><strong>June 2026 Trading Update</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!9RuW!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!9RuW!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!9RuW!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!9RuW!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!9RuW!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!9RuW!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg" width="1128" height="1005" 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/__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!9RuW!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!9RuW!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!9RuW!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2956e4bd-8cc6-4cdf-b3ee-7b3ac90444b8_1128x1005.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><br><br><strong>IncomeShares Gold + Yield ETP GLDI.L(USD) </strong><em><strong>also GLDE.L(GBP)</strong></em> (London)<br><br>This is the only live position atm (which should tell you what I think about this market). Gold is down circa 30% since its January high, this instrument has given me the gold exposure whilst cushioning some of the downside (I&#8217;m down about 10%) with those monthly dividends. The instrument is doing what it&#8217;s meant to do, the drawdown has been pretty brutal hopefully the gold price will stabilise &amp; I&#8217;ll start to make some money if gold chops sideways or gently rises. <br><em>Full disclosure, I own plenty of gold (not paper shit) &amp; have never sold nor have any intention (within the foreseeable future) of selling a single ounce of it </em><br><br><strong>Sprott Physical Uranium Trust U.U U.UN</strong> (Toronto SE), The discount to NAV has widened out to 10.25% which is in buy territory, however the positive price trend of the underlying uranium has stalled. My trend following system is giving a score -7.36/-20.00 (based on Sprott&#8217;s price) which is flat at best. I reckon if you bought in here you&#8217;d like do well over time, but the set up isn&#8217;t yet there (imho) for a short/medium term trade. I&#8217;ll keep on watching &amp; waiting.<br><br><br><em>For details of historic public trades search on X using the tickers, all trades from May 2026 will be posted on here</em></p><p><br><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p></blockquote><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Ye Olde Holborn's Opportunistic Trades]]></title><description><![CDATA[May 2026 Update $ACOMO $FLOW.AS $KASPI $BUR $0001$GLDI.L $GLDE.L $U.UN]]></description><link>https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-8bb</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades-8bb</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Fri, 29 May 2026 16:39:22 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!2JOu!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<blockquote><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!2JOu!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!2JOu!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg" width="1360" height="768" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/f4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:768,&quot;width&quot;:1360,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:242751,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/199740050?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!2JOu!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff4bcd596-8c52-409f-b2bd-09be7bf739ad_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>About YOH&#8217;s Opportunistic Trades</strong><br><br>I started this portfolio on X back in April 2025 as the Zero Tax Portfolio, it has now been rebranded as Opportunistic Trades &amp; moved over to Substack. Going forward this will feature short to medium term trades with more defined setups/catalysts. </p><p>Check out YOH&#8217;s Value Vault for longer term global value investing with the intention of building wealth over time</p><div class="digest-post-embed" data-attrs="{&quot;nodeId&quot;:&quot;d5e5c46c-924d-4339-8490-56b3d0c0b896&quot;,&quot;caption&quot;:&quot;The plan here is simple - build a value investing portfolio of publicly traded businesses that over time will reward me for owning them. I&#8217;m starting out with &#163;20,000 in cash to get me going &amp; I&#8217;ll be adding &#163;250 per month to accumulate &amp; compound wealth over time.&quot;,&quot;cta&quot;:null,&quot;showBylines&quot;:true,&quot;showDescription&quot;:true,&quot;showImage&quot;:true,&quot;size&quot;:&quot;lg&quot;,&quot;isEditorNode&quot;:true,&quot;title&quot;:&quot;Ye Olde Holborn's Value Vault&quot;,&quot;publishedBylines&quot;:[{&quot;id&quot;:499592365,&quot;name&quot;:&quot;Ye Olde Holborn&quot;,&quot;bio&quot;:&quot;Part time shit poster on X&quot;,&quot;photo_url&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/4d458268-a71e-4c32-90c3-b76c7fb6d196_558x558.jpeg&quot;,&quot;is_guest&quot;:false,&quot;bestseller_tier&quot;:null}],&quot;post_date&quot;:&quot;2026-05-13T06:22:05.769Z&quot;,&quot;cover_image&quot;:&quot;https://substackcdn.com/image/fetch/$s_!UGNr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbe3958d-e8b4-4b56-aeee-d5cb6c8c6624_1360x768.jpeg&quot;,&quot;cover_image_alt&quot;:null,&quot;canonical_url&quot;:&quot;https://yeoldeholborn.substack.com/p/ye-olde-holborns-value-vault&quot;,&quot;section_name&quot;:null,&quot;video_upload_id&quot;:null,&quot;id&quot;:195366207,&quot;type&quot;:&quot;newsletter&quot;,&quot;reaction_count&quot;:4,&quot;comment_count&quot;:0,&quot;publication_id&quot;:8750282,&quot;publication_name&quot;:&quot;Ye Olde Holborn's Substack&quot;,&quot;publication_logo_url&quot;:&quot;https://substackcdn.com/image/fetch/$s_!tsbA!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F58cb9e38-de49-4bea-84b3-da05434c9de5_558x558.png&quot;,&quot;belowTheFold&quot;:false,&quot;youtube_url&quot;:null,&quot;show_links&quot;:null,&quot;feed_url&quot;:null}"></div><p><br><strong>Market Overview</strong><br>It&#8217;s been yet another strong month for the S&amp;P500 we&#8217;re now at Dotcom bubble valuation levels with the Shiller PE ratio at 42.5 (Dotcom peak 44.19. mean 17.4). </p><p><strong>May 2026 Trading Update</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!UmC2!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 424w, /__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 848w, /__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 1272w, /__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!UmC2!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png" width="732" height="602" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/b244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:602,&quot;width&quot;:732,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:188889,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/199740050?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 424w, /__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 848w, /__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 1272w, /__u/substackcdn.com/image/fetch/$s_!UmC2!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fb244bcfb-89ac-40dd-b639-f44e50aa2b0f_732x602.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><strong>Amsterdam Commodities ACOMO</strong> (Euronext Amsterdam) Profit 10.14%</p><p><strong>Flow Traders FLOW.AS </strong>(Euronext Amsterdam) Profit 27.70%</p><p><strong>KASPI <a href="https://x.com/search?q=%24KSPI&amp;src=cashtag_click">KSPI</a></strong> (Nasdaq) Profit 22.07%</p><p>All these companies were removed from this portfolio during May. There&#8217;s nothing wrong with any of these businesses but they&#8217;re all more longer term investments &amp; I want to be focused on short to medium term trades here. These names are all possible candidates for the Value Vault.  <br><br><strong>Burford Capital BUR BUR.L</strong> (Nasdaq &amp; London SE). This trade went to shit. I decided to take a 53.35% hit &amp; move on. Note; Burford will probably do okay from here as it has been pretty much de-risked, but the recovery could take several months. I did consider doubling down, but I just wasn&#8217;t that enthusiastic about owning it in here without a catalyst. <br><br><strong>C K Hutchinson $0001.HK</strong> (Hong Kong SE). I cashed out of this taking a 58.05% profit, the market valuation was starting to catch up with the company&#8217;s fair value - mission accomplished.<br><br><strong>IncomeShares Gold + Yield ETP GLDI.L(USD) </strong><em><strong>also GLDE.L(GBP)</strong></em> (London)<br><br>This is the only live position atm (which should tell you what I think about this market). Gold has been in decline over the last couple of months, this instrument has given me the gold exposure whilst offering some protection on the downside with those monthly dividends. I&#8217;m pretty happy with this &amp; hopefully I&#8217;ll start to make some money if gold chops sideways or gently rises.<br><em>Full disclosure, I own plenty of gold (not paper shit) &amp; have never sold nor have any intention (within the foreseeable future) of selling a single ounce of it</em><br><br><strong>Sprott Physical Uranium Trust U.U U.UN</strong> (Toronto SE), I&#8217;ve not managed to get back in on the uranium trade during May, but I&#8217;m watching the discount waiting for another opportunity<br><br><br><em>For details of historic public trades search on X using the tickers, all trades from May 2026 will be posted on here</em></p><p><br><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p></blockquote><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[OPPORTUNISTIC TRADES - ⚠️TRADE ALERT]]></title><description><![CDATA[SELL (REMOVE) $ACOMO $FLOW.AS & KSPI]]></description><link>https://yeoldeholborn.substack.com/p/opportunistic-trades-trade-alert-07c</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/opportunistic-trades-trade-alert-07c</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Thu, 21 May 2026 07:24:52 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!mxba!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!mxba!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!mxba!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg" width="1360" height="768" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:768,&quot;width&quot;:1360,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:246069,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/198663218?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!mxba!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa624c859-7677-425a-9746-672032fdcbff_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Whenever I execute a trade in one of my pubic portfolios I always show the transaction receipt to demonstrate that I&#8217;m risking real money &amp; that I have skin in the game. The following stocks have not been sold, but I&#8217;ve simply removed them from the portfolio valuing them at last night&#8217;s closing price. </p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p>This is a tidying up exercise as these stocks are longer term investments &amp; are more suited to the Value Vault portfolio where some may appear in the future. I&#8217;ll be focusing on more shorter term trading opportunities here with a catalyst. I still like all of these names &amp; will continue to own them just not in here.</p><p>For completeness I&#8217;ve included a copy of the original buy orders from X</p><p><strong>REMOVE</strong></p><p><strong>35Nr Amsterdam Commodities (Euronext Amsterdam ticker ACOMO) @ 25.65 EUR Profit  &#163;74.15 10.14%</strong></p><p><strong>100Nr Flow Traders (Euronext Amsterdam ticker FLOW) @ 30.34 EUR Profit &#163;569.31 27.70%</strong></p><p><strong>28Nr KASPI (Nasdaq ticker KSPI) @ $91.86 Profit &#163;352.92 22.09%</strong></p><p><em>Note: profits include any dividend accruals</em></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!tLb5!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ff0790a8d-2eac-46a6-a616-e564850ba990_908x1510.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" 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4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!TcoV!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f596341-790d-4309-a425-145c91f92813_1263x1294.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!TcoV!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1f596341-790d-4309-a425-145c91f92813_1263x1294.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!TcoV!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, 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y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. 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Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[OPPORTUNISTIC TRADES - TRADE ALERT ]]></title><description><![CDATA[SELL CK HUTCHINSON & BURFORD CAPITAL]]></description><link>https://yeoldeholborn.substack.com/p/opportunistic-trades-trade-alert</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/opportunistic-trades-trade-alert</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Mon, 18 May 2026 12:00:40 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!aDTJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf43a537-b7b4-43ae-b3ae-d20fd6f52ccf_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!aDTJ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf43a537-b7b4-43ae-b3ae-d20fd6f52ccf_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!aDTJ!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf43a537-b7b4-43ae-b3ae-d20fd6f52ccf_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!aDTJ!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf43a537-b7b4-43ae-b3ae-d20fd6f52ccf_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!aDTJ!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf43a537-b7b4-43ae-b3ae-d20fd6f52ccf_1360x768.jpeg 1272w, 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1272w, /__u/substackcdn.com/image/fetch/$s_!aDTJ!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbf43a537-b7b4-43ae-b3ae-d20fd6f52ccf_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>SELL 500Nr CK HUTCHINSON (Hong Kong SE ticker 0001)</strong> I bought into this at $44.50 HKD when it was a offering great value &amp; asymmetrical upside opportunity, now at $72.30 HKD much of the easy value has been realised &amp; its not as compelling at these levels. <em>Note, I&#8217;ve included the original buy orders from X for both trades for completeness</em></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en-gb&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p><strong>Profit   +&#163;1.304.73 +58.05%</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!DRJZ!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!DRJZ!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg" width="1029" height="1445" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1445,&quot;width&quot;:1029,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:439573,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/198238500?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!DRJZ!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F775dd4f8-9fde-45d1-9890-14a1d1d15f88_1029x1445.jpeg 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!uR5b!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!uR5b!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg" width="828" height="1406" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1406,&quot;width&quot;:828,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:373249,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/198238500?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!uR5b!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F2adc52a6-eb64-45f7-a76f-cbe6d5ac24ba_828x1406.jpeg 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>SELL 100 Nr Burford Capital (London SE ticker BUR, </strong><em><strong>also Nasdaq ticker BUR</strong></em><strong>) </strong>This trade has gone wrong, it will probably recover at least some value eventually, but there&#8217;s no immediate catalyst &amp; I don&#8217;t love it enough to double down, therefore I&#8217;m out. I&#8217;ll take the hit &amp; move on.</p><p><strong>Loss -&#163;389.25 -53.35%</strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!2cYT!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcf6fcb2e-de1d-44d1-81d4-85d7fc15bd07_828x1372.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!2cYT!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fcf6fcb2e-de1d-44d1-81d4-85d7fc15bd07_828x1372.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!2cYT!, /__u/yeoldeholborn.substack.com/w_848, 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4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. 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Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div>]]></content:encoded></item><item><title><![CDATA[Ye Olde Holborn's Value Vault]]></title><description><![CDATA[Global Value Investment Portfolio]]></description><link>https://yeoldeholborn.substack.com/p/ye-olde-holborns-value-vault</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/ye-olde-holborns-value-vault</guid><dc:creator><![CDATA[Ye Olde Holborn]]></dc:creator><pubDate>Wed, 13 May 2026 06:22:05 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!UGNr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbe3958d-e8b4-4b56-aeee-d5cb6c8c6624_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!UGNr!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbe3958d-e8b4-4b56-aeee-d5cb6c8c6624_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!UGNr!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, 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1272w, /__u/substackcdn.com/image/fetch/$s_!UGNr!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Ffbe3958d-e8b4-4b56-aeee-d5cb6c8c6624_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p class="button-wrapper" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe now&quot;,&quot;action&quot;:null,&quot;class&quot;:null}" data-component-name="ButtonCreateButton"><a class="button primary" href="/__u/yeoldeholborn.substack.com/subscribe"><span>Subscribe now</span></a></p><h2></h2><p>The plan here is simple - build a value investing portfolio of publicly traded businesses that over time will reward me for owning them. I&#8217;m starting out with &#163;20,000 in cash to get me going &amp; I&#8217;ll be adding &#163;250 per month to accumulate &amp; compound wealth over time. </p><p>For me value investing is a core strategy which I&#8217;ve been running for many years now <em>(amongst others which I&#8217;ll also be writing about on here)</em> &amp; was integral in me being able to retire whilst still in my 40s once my investment returns surpassed my income from selling my time for money. I&#8217;ll be drawing upon this knowledge &amp; experience to select businesses for inclusion in this portfolio.</p><p>Beyond doubt over the last 20 or so years the sensible thing to do was to dollar cost average into a cheap S&amp;P500 index tracker, it is now the received wisdom that this condition will last forever. For anyone under 40 the S&amp;P going up is all they&#8217;ve ever known. If we look at the CAPE ratio chart below we can see at a glance that current valuations are above the 1929 pre-crash level &amp; are at where they were building up to the dot com bubble. Historically the ratio after reaching elevated levels <em>(41 at the time of writing)</em> revert back to the mean <em>(historically 17)</em>. If this were to happen again current market valuations could easily be cut in half or worse in real terms. When will this happen? I have no idea - it could be next week or it could be a 20 year sideways grind with inflation eating away at it, or it may be different this time &amp; never happen. What I do know is that I&#8217;m not going to be participating by owning real value, share prices may get knocked around by market noise but in the long run if the businesses I own perform as anticipated then they should be able to weather market shocks &amp; deliver rewards over time.</p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!CP3U!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 424w, /__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 848w, /__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 1272w, /__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!CP3U!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png" width="590" height="383" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:383,&quot;width&quot;:590,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:22298,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/195366207?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 424w, /__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 848w, /__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 1272w, /__u/substackcdn.com/image/fetch/$s_!CP3U!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9046ddc6-d213-4944-9ef6-a60a73a96866_590x383.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><em>CAPE Ratio Chart from lynalden.com Check out the link if you want a more in depth look at how the CAPE Ratio works <a href="https://www.lynalden.com/shiller-pe-cape-ratio/">Lyn Alden CAPE Ratio</a></em></p><p>I&#8217;m not going to get bogged down with setting out rules &amp; restrictions as to what I can &amp; can&#8217;t invest in, number &amp; size of positions etc it&#8217;ll be what it is, you&#8217;ll get a see what the strategy is about as it progresses</p><p>As this will be a global portfolio many (likely most) of the companies included will be domiciled in foreign countries therefore there will be exposure to currency risk as I&#8217;ll be valuing the portfolio in &#163;GBP. This doesn&#8217;t bother me as it&#8217;s swings &amp; roundabouts over time. Ultimately if the selections are sound they should outperform all government fiat over long run. For me it far riskier to have all your life savings tied up in a single region/currency </p><p>If you&#8217;re interested in shorter term trading check out my opportunistic trades this will be a continuation of the old X Portfolio which I&#8217;ll also be sharing on here </p><p></p><p><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p><div class="subscription-widget-wrap-editor" data-attrs="{&quot;url&quot;:&quot;https://yeoldeholborn.substack.com/subscribe?&quot;,&quot;text&quot;:&quot;Subscribe&quot;,&quot;language&quot;:&quot;en&quot;}" data-component-name="SubscribeWidgetToDOM"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Thanks for reading Ye Olde Holborn's Substack! Subscribe for free to receive new posts and support my work.</p></div><form class="subscription-widget-subscribe"><input type="email" class="email-input" name="email" placeholder="Type your email&#8230;" tabindex="-1"><input type="submit" class="button primary" value="Subscribe"><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p>]]></content:encoded></item><item><title><![CDATA[Ye Olde Holborn’s Opportunistic Trades ]]></title><description><![CDATA[April 2026 Update]]></description><link>https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades</link><guid isPermaLink="false">https://yeoldeholborn.substack.com/p/ye-olde-holborns-opportunistic-trades</guid><pubDate>Fri, 01 May 2026 06:41:10 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!s5Kp!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!s5Kp!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!s5Kp!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, 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data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:768,&quot;width&quot;:1360,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:241835,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/jpeg&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/195619854?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!s5Kp!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg 424w, /__u/substackcdn.com/image/fetch/$s_!s5Kp!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg 848w, /__u/substackcdn.com/image/fetch/$s_!s5Kp!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg 1272w, /__u/substackcdn.com/image/fetch/$s_!s5Kp!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F986b0ace-8da4-43b1-977a-bb74f286e22a_1360x768.jpeg 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>House Keeping Notes</strong><br>I&#8217;ve decided to shift my investing, trading &amp; financial material from X onto Substack which is a better platform for exploring things in more detail. The portfolio has been rebranded as Opportunistic Trades &amp; going forward will concentrate on short to medium term trades with a more defined setup/catalyst. I&#8217;m planning to start a second portfolio for longer term global value investments with the intention of building wealth over time, maybe starting with a modest lump sum with a fixed monthly contribution - more on this later.   <br>I also intend to dive into various strategies, stocks or anything else that takes my interest &amp; may be useful.</p><p><strong>Market Overview</strong><br>It&#8217;s been a strong month for the S&amp;P500 enjoyers despite the war, Hormuz disruption &amp; higher oil prices which no one seems to care about anymore (along with the looming private credit issues).  <br>I remain cautious (as ever) &amp; am happy to leave them to it.  </p><p><strong>April 2026 Trading Update </strong></p><div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="/__u/substackcdn.com/image/fetch/$s_!R6AI!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="/__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 424w, /__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 848w, /__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 1272w, /__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_webp, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 1456w" sizes="100vw"><img src="/__u/substackcdn.com/image/fetch/$s_!R6AI!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png" width="695" height="568" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/d6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:568,&quot;width&quot;:695,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:107433,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:false,&quot;internalRedirect&quot;:&quot;https://yeoldeholborn.substack.com/i/195619854?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="/__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_424, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 424w, /__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_848, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 848w, /__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_1272, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 1272w, /__u/substackcdn.com/image/fetch/$s_!R6AI!, /__u/yeoldeholborn.substack.com/w_1456, /__u/yeoldeholborn.substack.com/c_limit, /__u/yeoldeholborn.substack.com/f_auto, /__u/yeoldeholborn.substack.com/q_auto:good, /__u/yeoldeholborn.substack.com/fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fd6819c23-8cea-40d8-9c13-41692acd32e6_695x568.png 1456w" sizes="100vw"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg aria-hidden="true" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p></p><p><strong>Amsterdam Commodities ACOMO</strong> (Euronext Amsterdam). I&#8217;ve owned this company for over 5 years now elsewhere. It&#8217;s proved to be a solid business in a sector I like (ie food/ingredients). It reported okay earnings (slightly down on the previous strong year) . The shares went ex-dividend in April, so that&#8217;s another tidy 0.95 EUR per share in the bag.<br><br><strong>Burford Capital BUR BUR.L</strong> (Nasdaq &amp; London SE). This trade has gone to shit, I was hoping to sell into good news on the YPF appeal, unexpectedly (for me) the decision went against Burford &amp; the share price got cut in half. I was never particularly a fan of this business &amp; I wouldn&#8217;t usually hang on to a losing trade, but this has now been de-risked &amp; is more of a value proposition although I don&#8217;t see any catalyst for a prompt recovery. I need to decide whether to either write this off or possibly even double down.<br><br><strong>C K Hutchinson $0001.HK</strong> (Hong Kong SE). The wait continues to see what happens with the ports deal. I&#8217;m happy to own in the mean time (the sum is valued at a nice discount to its parts ~ imho) &amp; collect the dividends whilst all this plays out<br><br><strong>Flow Traders FLOW.AS </strong>(Euronext Amsterdam). This is the largest position in my personal portfolio (by far). They reported solid quarterly results in April, I&#8217;m still getting a volatility hedge (in case of a market meltdown) with a nice positive carry as they continue to compound shareholder value. <br><br><strong>KASPI <a href="https://x.com/search?q=%24KSPI&amp;src=cashtag_click">KSPI</a></strong> (Nasdaq).<strong> </strong>Kazakhstani moated super app with Turkish e~commerce moonshot ~ I&#8217;m hoping that the price will re~rate during 2026. They&#8217;re due to report earnings in May, so we&#8217;ll see how they&#8217;re getting on. The Kazakhstani economy is heavily reliant on oil prices so they may be getting a boost from the ME conflict although I did read that some of their oil production had been affected by the Ukraine conflict. I collected a $1.76 dividend from them during April (which was nice)<br><br><strong>IncomeShares Gold + Yield ETP  GLDI.L(USD) </strong><em><strong>also GLDE.L(GBP)</strong></em> (London) <br>Having traded this instrument in February for a cheeky 13.48% profit. I got back in during the March gold rout &amp; stuck around long enough to collect the first monthly dividend income. The instrument has performed as expected so far ie given me exposure to gold &amp; collect those dividends in what I predict to be a few months of sideways chop/consolidation for gold.<br><em>Full disclosure, I own plenty of gold (not paper shit) &amp; have never sold nor have any intention (within the foreseeable future) of selling a single ounce of it</em><br><br><strong>Sprott Physical Uranium Trust U.U U.UN</strong> (Toronto SE), I&#8217;ve not managed to get back in on the uranium trade during April, but the positive trend (by my measures) is getting stronger, so I&#8217;m watching the discount waiting for another opportunity <br><br><em>For details of historic public trades search on X using the tickers, all future trades from May 2026 will be posted on here</em></p><p><br><em><strong>Legal Disclaimer</strong></em></p><p><em>This content is for information and entertainment purposes only. I am not a financial advisor, nor a registered investment professional. Nothing I share constitutes financial, investment, tax, or legal advice.</em></p><p><em>All trades, ideas, and opinions are my personal views only. Past performance is not indicative of future results. Investing and trading involve substantial risk of loss&#8212;you can lose some or all of your capital.</em></p><p><em>You are solely responsible for your own investment decisions. Always do your own research and consult a qualified professional before investing.</em></p><p><em>I make no warranties about the accuracy or completeness of the information and will not be liable for any losses or damages arising from its use.</em></p><p><em>By using this content, you agree to release me from all liability.&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;&#8203;</em></p>]]></content:encoded></item></channel></rss>