Monthly Update: September 30

Summary: The high on this chart has been reached at least 3 times thus far in 2026. The drawdown is mostly volatility given macro pressures surrounding energy and inflation, which affect interest rate futures and subsequently the discount rate applied to potential future cash flows of biotech companies. In addition, I took one substantial loss in late September given updated data that no longer gives me conviction in the thesis. I have since concentrated into one new holding as well as added to existing ones.

I have no meaningful debt. The bar graph shows my base after living expenses, including rent, as of the end of each month since November 2024.

My goals are to consistently grow this figure on an annual basis, maintain zero or near-zero debt, improve the consistency of my investing/trading habits and execution, and take full advantage of compounding over time.

Note on historical context: A note on the starting point: this record begins where I recommitted — selling my home in late 2024 to fund a rebuilt strategy, after earlier years that included real losses. I count from that line because it’s when I began this website and sharing publicly, and I'd rather you know that than wonder about it. The fuller account is in my story.