Month-End Recap, Oct 2010

This is a new feature: a very quick summary of my investment positions, to be published monthly. This is not investment advice and should not be construed as such.

I am currently 93% invested, as follows:

59% Agricultural commodities
11% Other commodities
17% Emerging market equities
6% Miscellaneous equities

My largest position is in soybeans, followed by sugar.

I usually try to be between 85% and 105% invested, so I am a touch below my average exposure here. Indeed I plan to drop down to around 90% in the next few weeks or months, mainly through selling EM stocks especially India.