Andrew Schornack Profile Picture Individual Investor

Andy Schornack

Vice President, First Commercial Bank and owner of real estate investment business,Financial Services

  • Education University of Minnesota, University of St. Thomas
  • Qualifications BSB Finance and Entrepreneurial Studies, MBA
  • Investment Experience 8 years

Financial Services

Focusing on the financial service and real estate sectors, this portfolio employs a bottom-up approach, conducting detailed financial statement analysis with valuation techniques. Invests in companies with stable dividends that are trading at a discount to fair market value. The model has a target minimum yield of 3%.
Analyzes opportunities in the financial services sector, including REITs, focusing on institutions with favorable balance sheets and cash flow statements in order to support a stable dividend and capital appreciation. Also contributing to the stable dividend is a blend of common and preferred equities which are trading at a discount to fair market value.
Utilizing a bottom-up approach, the model screens securities through research including newspapers, investment blogs and online forums. Once screened, the model conducts in-depth analysis of the 10-K, 10-Q, letters to shareholders and conference calls. Particular emphasis is placed on management philosophy.
The model will range from 5 to 15 positions. Initially, each position will be 5-10% of the model with the best opportunities as high as 25% of the model. Looks to buy positions at a minimum of 15% discount to intrinsic value based on his internal estimates.
Aims to sell positions as they reach a targeted intrinsic value. Targeted returns are 10-15% per annum. Will consider averaging down in a confident investment and will liquidate positions where material changes have affected the underlying value of the security.
Occasionally will invest in special situation opportunities that provide the appropriate risk/reward characteristics.

Risk rating

4
20.7%

Best 30 days

-20.1%

Worst 30 days

Performance

  • 8.0%
    30 day
  • -2.6%
    365 days
  • 48.8%
    Since Inception
    September 03, 2009
Monthly vs S&P500
Sparkbar Graph, Financial Services Investment Model Performance versus S&P500
-5.1%

Last 12 months

  • $5,000.00 subscription min
  • 1.5% fee

Replicability

0.0%
97.6%
2.4%
100.0%
  • Non-replicable
  • Holdings
  • Cash
  • Replicable

Top 5 Holdings View all

6.7%
14.9%
9.2%
9.1%
7.6%
  • CINF
  • NYB
  • KKR
  • TWGP
  • MS

Model commentary

  1. How private equity firms work

    17 January 2012

    PE firms are in the spotlight recently due to Mitt Romney's ascendance as the leader in the Republican primaries. Here's how they work.

  2. Two sleeper financial stocks: Bank of America and … 17 January 2012
  3. Best Buy and Supervalu continue to look attractive 22 December 2011
  4. Adding to my KKR position for these 4 reasons 13 December 2011
  5. Uncertainty is the friend of the long-term value … 23 November 2011

show more


Performance detail

  • Manager
  • S&P 500 Financials
  • S&P 500
30D 90D 365D SI

Performance

Inception September 03, 2009
as of February 08, 2012 Manager S&P 500 Financials S&P 500 Average Subscriber
Past 30 days 8.0% 9.5% 5.4% 7.7%
Past 90 days 14.3% 14.3% 8.9% 13.1%
Past 365 days -2.6% -13.0% 1.9% -4.8%
Since Inception (Annualized) 17.7% 2.0% 13.0% -
2012 (YTD) 13.6% 13.4% 7.3% 13.2%
2011 -9.6% -18.4% -0.0% -11.6%
2010 24.3% 10.8% 12.8% 20.9%

Risk Metrics

Last 365 Days
as of February 08, 2012 Manager S&P 500 Financials S&P 500
Best 30 days 20.7% 18.7% 13.6%
Worst 30 days -20.1% -22.0% -16.7%
Volatility 32.7% 35.1% 23.2%
Sharpe Ratio -0.08 -0.38 0.08
Sortino Ratio -0.12 -0.52 0.10
Maximum Drawdown -28.8% -34.3% -19.4%
Value-at-risk (95%, 1 week) -7.6% -8.1% -5.4%
vs. S&P 500 Financials vs. S&P 500
Information Ratio 0.83 -0.31
Alpha 9.3% -3.4%
Beta 0.87 1.29
R-Squared 0.87 0.84

Latest transactions view all

Average trades per month 2.0
Executed Symbol Security Replicable Type Price
02/06/12 TWGP Tower Group Inc Yes Buy $22.45
02/01/12 MS Morgan Stanley Yes Sell $19.12
11/18/11 KKR KKR & Co LP Yes Buy $12.37
11/18/11 NYB New York Community Bancorp Inc Yes Buy $11.95
11/15/11 TAXI MEDALLION FINANCIAL CORP Yes Sell $11.72
10/04/11 MS Morgan Stanley Yes Buy $12.25
10/04/11 NYB New York Community Bancorp Inc Yes Buy $11.36
09/29/11 AGNC American Capital Agency Corp Yes Sell $27.21
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  • $5,000.00 subscription min
  • 1.5% fee

Important Information

1. Past performance is no guarantee of future results.

2. Performance of the model manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions, and broker commissions. Manager returns include trades that fail Covestor's trading rules, do not reflect any Covestor suitability or risk score restrictions and are exclusive of Covestor fees. More

3. Average subscription returns ("Avg Sub" or "Avg Client") are calculated by Covestor and are composed of the average, daily, time weighted returns of all active subscriptions to the underlying model. These daily average returns are then linked together for the timeframe requested. In addition, these returns include cash, dividends and earnings distributions, brokerage commissions, Covestor advisory fees, and reflect individual client suitability and risk score restrictions. More

4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The subscription minimum is the minimum subscription required to follow a particular model. The minimum amount is determined by Covestor, based on the characteristics of the underlying model. It should not be considered as specific investment advice for your investment situation.

5. Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations and do not include cash, dividends and earnings distributions, or transaction costs. More

6. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.

7. All Model Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Model Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Model classifications (Approach, Asset Class) are provided by Covestor, and are intended to serve as a general guide.

8. Top Replicable Holdings: These securities are currently held in the model manager's brokerage account. Those marked as "Replicable Holdings" currently pass Covestor's trading rules, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription holdings may vary.

9. Latest Transactions: These transactions were executed in the model manager's brokerage account. Those marked as "Replicable" () passed Covestor's trading rules and were eligible for replication at the time of execution, subject to individual client constraints. Eligibility for replication may change over time. Actual client subscription trade activity may vary.

10. S&P 500 Index is an unmanaged index compiled by Standard & Poor´s Corp. Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index. S&P 500 index data: S&P 500 Copyright © 2012.

11. Dow Jones index data: CME Group Index Services, LLC 2012


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