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PMCUF - Project $1M: A Correction Now Looks Increasingly Likely
Pro Medicus Ltd Ord
August brought a return to reality for Project $1M, the concentrated high growth portfolio that I run. After having progressively skipped through the year higher and higher, August finally threatened a more meaningful correction, with several days providing declines of 2-3%. The portfolio finished the month slightly lower, by about 0.3%. For a variety of reasons, my growth portfolio was spared the worst of the declines and ended up still outperforming the S&P 500 index, which had only its second down month for the year (the other being May), finishing down some 1.67%.