ByteTree Quarterly Investor Letter – Q4 2025
In this Q4 2025 update, I shall review the model portfolios, named Whisky and Soda, which I have been managing since January 2016. I shall also touch on some of our other services.
TMAI
A diversified portfolio service that blends traditional bonds and equities with alternative assets such as gold, commodities, and digital assets
Latest
The Silver Surge
There were all sorts of theories as to why silver surged, but I think it’s simple. With gold in a bull market and silver being undervalued until recently, conditions are right.
TMAI
·
The Unanswered Postbox
In recent months, we have received some good feedback and comments on surveys, for which we are grateful. I couldn’
Investment Trusts Part III
We continue our review of the investment trusts held in the Soda Portfolio. With markets so quiet, it’s a good time to do this and get up to speed for 2026.
Investment Trusts Part II
As we approach the quiet time of year in markets, I’ll continue to update you on the investment trusts.
Update on Caledonia Trust
This week, I will touch on the Caledonia Investment Trust (CLDN). The portfolio is £3bn, yet the market cap is £2bn. So, by investing in CLDN, you get a share of £1bn for free.