The Thesis
The Treasury’s portfolio consists of a diverse set of investment instruments, actively managed and rebalanced with the primary goal of continuous capitalization growth (“Up-Only Strategy”). The portfolio indicator is the main tool for monitoring the effectiveness of this activity and the market behavior of portfolio projects.
NB: Portfolio incudes only liquid assets and does not include PE&E and vested assets of The Treasury.
Allocation Rationale
The Primary Reason for opening allocations is the current undervaluation of the asset and the presence of rational reasons for the prospect of price/capitalization growth.
Secondary Reson: The Church is in the stage of building its reputation and exploring ecosystems, using a Skin in the Game strategy. Allocations may be opened in knowingly unprofitable but alternatively valuable projects to gain non-financial benefits.
Current Risk Sensitivity: 30%
How to Read The Chart
In addition to the overall movement of capitalization growth/decline, the chart demonstrates the effectiveness of the Church’s business directions through the capitalization dynamics of portfolio projects. The chart highlights both consistently stable projects and regular underperformers.
Normalized Prices
The Treasury tracks the price dynamics of portfolio assets through normalized prices. For this purpose, current prices are compared with the asset prices at the date of allocation opening. This approach enables decision-making regarding rebalancing, taking into account the current sentiment towards the asset.
Backlog v.0.4
Overlay the trend line and benchmarks