Dan Plettner Profile Picture Individual Investor

Dan Plettner

Financial Services

  • Education New York University; Miami University of Ohio
  • Qualifications MBA, BS
  • Investment Experience Approximately 20 years
Secrets of a Top Performer
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Taxable Income

Taxable Income model seeks to exploit inefficiencies in Closed-End Funds and other under followed securities. This model focuses on taxable income securities. The goal is to significantly outperform bond portfolio managers and bond ETFs on a total return basis.  The target yield on the portfolio is 6-10% (when fully invested).  However, total return is paramount to yield.
Seeks to exploit inefficiencies in Closed-End Funds and other under-followed exchange-traded securities across multiple asset categories.

This model focuses on taxable income securities. The goal is not to maximize taxable income, rather to maximize total return within a model focused on taxable income securities. The goal is to significantly outperform bond portfolio managers and bond Exchange Traded Funds (“ETFs”) on a total return basis. Bond ETFs and traditional bond fund managers are extensively flawed, as discussed further in “Allocation Discipline” tab.
Various private investigative research techniques are used in effort to locate opportunities. Focuses on underfollowed securities.  Seeks to identify potential valuation changes which are unanticipated by median market participants.
Seeks to mitigate the interest-rate risk posed to the model’s market value by increasing allocations to securities anticipated to pay coupons or dividends of a dynamic nature.
Evaluates an ongoing opportunity relative to a broader set of other available opportunities. In other words, may buy a security from which positive performance is expected in order to participate in positive performance of greater magnitude.
Not constrained to only closed-end funds.  May also use preferred and common equity related securities, which many traditional bond fund managers never contemplate. “Taxable Income” is a style bias, not a strict mandate.

Risk score

2
8.3%

Best 30 days

-12.5%

Worst 30 days

Performance

  • 5.4%
    30 day
  • 7.7%
    90 day
  • 27.6%
    365 day
Monthly vs S&P500
dan plettner - taxable income
4.5% 12 months
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Replicability

100.0%
  • Replicable

Top 5 Holdings View all

17.4%
12.4%
11.2%
9.5%
8.3%

Model commentary

  1. Why I'm shorting these three closed-end funds

    14 May 2013

    All three trade at unjustified premiums to their NAV.

  2. Why I'm staying with closed end funds in this market 14 March 2013
  3. What CEFs teach you about Apple stock 8 February 2013
  4. Staying long with conviction 1 October 2012
  5. Beware market sages predicting the death of equities 14 August 2012

show more


Performance detail

  • Manager
  • First Trust Taxable Fixed Income TR
  • S&P 500
30D 90D 365D SI

Performance

Inception April 07, 2010
as of May 21, 2013 Manager First Trust Taxable Fixed Income TR S&P 500 Average Subscriber
Past 30 days 5.4% 1.4% 7.3% 5.3%
Past 90 days 7.7% 2.5% 10.4% 7.3%
Past 365 days 27.6% 18.6% 26.8% 25.1%
Since Inception (Annualized) 14.5% 11.8% 11.7% -
2013 (YTD) 13.9% 7.3% 17.0% 13.3%
2012 20.9% 17.5% 13.4% 17.7%
2011 0.8% 4.8% -0.0% -0.3%

Risk Metrics

Last 365 days
as of May 21, 2013 Manager First Trust Taxable Fixed Income TR S&P 500
Best 30 days 6.7% 5.4% 8.2%
Worst 30 days -7.1% -5.9% -7.0%
Volatility 7.8% 6.9% 12.7%
Sharpe Ratio 3.50 2.70 2.11
Sortino Ratio 5.08 2.75 3.02
Maximum Drawdown -7.2% -7.0% -7.7%
Value-at-risk (95%, 1 week) -1.8% -1.6% -2.9%
vs. First Trust Taxable Fixed Income TR vs. S&P 500
Information Ratio 1.29 0.10
Alpha 13.6% 12.0%
Beta 0.64 0.52
R-Squared 0.32 0.70
Dan Plettner's other strategies
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Latest transactions view all

Average trades per month 4.2
Executed Symbol Security Replicable Type Price
05/21/13 CSP American Strategic Income Portfolio III Yes Sell $7.31
05/20/13 CSP American Strategic Income Portfolio III Yes Sell $7.37
05/20/13 CSP American Strategic Income Portfolio III Yes Sell $7.37
05/20/13 CSP American Strategic Income Portfolio III Yes Sell $7.37
05/20/13 CSP American Strategic Income Portfolio III Yes Sell $7.37
05/20/13 CSP American Strategic Income Portfolio III Yes Sell $7.37
01/22/13 LBF DWS Global High Income Fund Inc Yes Sell $9.19
01/16/13 ECF Ellsworth Fund Ltd Yes Buy $7.43


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. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.

6. 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

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

8. 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.

9. 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.

10. 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.

11. 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/Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies Copyright © 2013.


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