SIF folio Q3 review: navigating a tricky period

Market volatility has surged recently, for reasons you’ll have read about elsewhere. By the time this article is published, the picture may have changed again, so I won’t make any attempt to guess at what happens next.
The underlying story seems to be that the UK (and global?) economy is probably slowing into a recession. However, the forward-looking nature of stock markets means that downside is often priced in well before the real-world economy starts to recover.
My rules-based SIF portfolio has become somewhat depleted over the last quarter. But with valuations down, I’m hopeful that my screen will present more buying opportunities over the coming months.
Here’s a summary of the portfolio’s performance and stock trades over the last three months.
SIF folio performance
SIF’s performance during the third quarter left my model portfolio marginally ahead of the FTSE All-Share index, which I use as a benchmark.

The decline over the last quarter meant that SIF fell by around 12% during the first nine months of 2022, leaving it marginally behind the FTSE All-Share on a YTD view:

I’m not too concerned about this. SIF has broadly followed the wider market and such reversals are a...