Returns for the calendar year 2023 across all financial assets. You can leave out the family home but that's it.

So you can't have 100k with 50k in a term deposit and 50k in stocks and then post about your stocks returns, you have to count the lot.

Value at the beginning of the year vs the end. If you have added significant money or withdrawn then this needs to be factored in by the 'time weighted' calculation (not easy). As the USD NZD was practically a wash it shouldn't matter much in calculations.

I returned just over 20%, this is not including my Sberbank position which was up 43% in USD (as I can't sell it). Quite a significant underperformance but that's in the context of having outperformed by over 30% last year.

The biggest factor by far however is that in returning 20% vs the market 24/25% my portfolio trades at less than 10 x earnings vs the market at North of 25 I believe. Thus returns have been driven by multiple expansion rather than EPS performance. This point is absolutely critical to understand going forward.