Personal Track Record
This is not an investment model
- It is a record of a member’s personal broker account as reported to Covestor
- It cannot be mirrored
Feb 01, 2012
Value Fund - View Profile
Personal Track Record
| Inception date | September 02, 2009 |
| Long/Short | Long and Short |
| Cap bias | Small cap |
| Holding Period | Buy and hold |
Performance and Risk
Performance Summary (as at end of February 08, 2012)
| Inception September 02, 2009 | Member | S&P 500 |
|---|---|---|
| Month to date (%) | -2.07 | 4.41 |
| 3 month (%) | -16.77 | 4.76 |
| 1 year (%) | 0.38 | 2.09 |
| Annualized since inception (%) | 14.49 | 0.68 |
| Since inception (%) | 31.09 | n/a |
| Sharpe (annualized) | 0.58 | 0.01 |
| % of positive months | 62.50 | 60.81 |
Past performance is not indicative of future performance
Commentary - Latest Posts
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PMIC - Rationale April 29, 2010
Penn Millers is a mutual insurance company that demutualized recently. I've had success in the past with demutualized insurance stocks as they often go under the radar when they demutualize and many times the stock goes for periods of time being mispriced.
One thing to note too, is that many of them, once demutualized, become potential acquisition targets. BUT, they usually can't be acquired for 3 years after the conversion process. (which creates opportunity and speculation as well) -
Trimmed holdings - FSC and TGB April 22, 2010
In anticipation of a potential correction, I moved some risk off the table and took some profits.
I sold 50% of my TGBI sold 33% of my FSC
Sold FSC right before it broke out but I am fine with that as it keeps me disciplined.
May look to buy my chunk in FSC again if it drops down to the low 11.00s range.
May look to buy TGB again if it pulls back to the 4.50s range.
Both are still fundamentally sound, no negative sentiment has come out since I bought it. FSC is still a strong divvy play with some......
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CFW - Cano Petroleum Rationale April 22, 2010
Merger arb play, with 30% discount to merger closing price.
It is weighted lower than my other merger plays because it is a stock deal, as opposed to a cash deal which would have been more attractive.
The deal is also contingent upon a successful equity raise, a requirement by the banks. This adds additional deal risk.
Valuation is there, was trading at 1.14 and the merger closing price would be 1.51.I also did a merger spread analysis of all merger deals in the market right now, and CFW ranks at......
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Other Holdings: Warrants March 29, 2010
Just bought a good amount of warrants, about 11% of my portfolio. They are listed in my account as "OTHER ASSETS"
Warrants are short term ~6 months which will be redeemed.
After doing extensive research, they seem mispriced so I pulled the trigger. Exit strategy June 2010, with a minimum 17% return on the low end.
Once again, these warrants are very illiquid so it took me a couple days to establish my position.
- Job Title Portfolio Manager
- Industry Investment Management
- Expertise 5-10 years
- Education BS in Finance
- Year of Birth 1981
- Country United States
- State Massachusetts
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- Past performance is no guarantee of future results.
- Performance of a Personal Track Record is calculated by Covestor on a daily time-weighted basis of equity positions in the account provided by the member. It is exclusive of any commissions, fees, dividends, earnings distributions, and cash in the portfolio.
- Month to Date returns and Since Inception returns are revised daily. All other returns (month, 3 month, year to date, et al) are calculated as of the most recent month end date.
- All graph data is as of the end of day for the referenced period, unless otherwise specified.
- 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
- All Personal Track Record information including personal data, profiles, strategies, commentary, and historical results outside of Covestor has been provided by the Member. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor.