Nikola Subotić

@alojohhardcore Thanks for sharing! If you don’t mind, could you share roughly how your portfolio is split across the main positions now? Approximate percentages would be very helpful.

Hi AJ, thanks for the excellent post — very helpful! Margin unfortunately isn’t available to me, but I do have access to 3x and 5x leveraged ETPs on the LSE. I had a good run with MAG7.LN since 7 April: sold around 80% at roughly +50% and left the rest to run, now around +100%. I also took a sizeable loss last year with a 3x Tesla ETP, so I’m very aware these instruments are not the same as margin. How would you adapt your valuation-based margin framework to leveraged ETPs? Would you think in terms of total portfolio exposure — for example targeting 120–130% gross exposure by sizing the 3x/5x ETP accordingly and keeping the rest in cash or 1x exposure — or would you use a different approach, especially given daily reset, volatility decay and longer holding periods? Appreciate any general thoughts — thank you.