# Profit Warnings, Private Equity Pain & Portfolio Returns

Page: https://stenobird.com/podcast/the-art-of-investing-7404303/profit-warnings-private-equity-pain-portfolio-returns
Text version: https://stenobird.com/podcast/the-art-of-investing-7404303/profit-warnings-private-equity-pain-portfolio-returns.md
Podcast: [The Art of Investing](https://stenobird.com/podcast/the-art-of-investing-7404303)
Published: 2026-02-27T15:27:00+00:00
Episode link: https://share.transistor.fm/s/b8e07d61
Audio file: https://pdrl.fm/7c6e9d/media.transistor.fm/b8e07d61/f8905985.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/the-art-of-investing-7404303/episodes/profit-warnings-private-equity-pain-portfolio-returns
Duration seconds: 3543

## Resource

This week on The Art of Investing, Rich McDonald, Mark “Spice” Holden and Chris “CJ” Fellingham unpack a strong week for the portfolio, led by commodities, emerging markets and continued European resilience.While the US debates tariffs and policy direction, global equity markets are pushing higher. Mining stocks surge, crypto stabilises, emerging markets extend gains, and the team ask whether the long-anticipated rotation away from US mega caps is finally accelerating? This Week’s Highlights:📊 Portfolio Gains MomentumA strong week driven by commodities and emerging markets exposure.⛏️ Mining Leads the ChargeBlackRock World Mining Trust hits fresh highs as metals rally.🌍 Emerging Markets Break HigherKorea climbs the global rankings and EM exposure continues to pay off.🇺🇸 US vs The Rest of the WorldIs money finally rotating away from US mega caps into global markets?🏦 Private Equity PressureAre private market valuations finally being tested?🧠 Investor PsychologyWhen a position is down 50%, what should you actually do? Portfolio Snapshot – Week 28:Weekly performance: +1.4%Total return since inception: +18.7%Top Performers🥇 BlackRock World Mining Trust PLC: +6.7%🥈 VanEck Crypto & Blockchain Innovators ETF: +4.0%🥉 WisdomTree Copper ETF: +3.4%Underperformers📉 iShares MSCI India ETF: –1.4%📉 iShares Russell 2000 ETF: –0.6%📉 Xtrackers DAX ETF: –0.5% Portfolio Positioning:The portfolio remains positioned toward:• Commodities (mining, copper)• Emerging markets• European equities• US small & mid-caps (rather than mega-cap tech)Cash and short-dated gilts remain in place as stability anchors (~20% combined). The team continue to emphasise geographic diversification away from heavy US concentration, particularly given global indices remain ~60–70% US weighted. Big Themes This…

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/the-art-of-investing-7404303/episodes/profit-warnings-private-equity-pain-portfolio-returns/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/the-art-of-investing-7404303/profit-warnings-private-equity-pain-portfolio-returns.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.