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|as of December 10, 2013||Manager (net of fees)||S&P 500|
|Past 30 days||3.9%||2.0%|
|Past 90 days||5.8%||7.3%|
|Past 365 days||15.5%||29.8%|
|Since Inception (Annualized)||2.0%||7.0%|
|as of December 10, 2013||Manager (net of fees)||S&P 500|
|Best 30 days||8.2%||8.4%|
|Worst 30 days||-4.5%||-4.7%|
|Value-at-risk (95%, 1 week)||-2.5%||-2.6%|
|vs. S&P 500|
|Information Ratio||- 1.92|
|11/15/13||JMI||JAVELIN Mortgage Investment Corp||Buy||$11.99|
|11/14/13||LULU||Lululemon Athletica Inc||Sell||$66.09|
|11/14/13||BHP||BHP Billiton Ltd||Buy||$70.61|
|11/13/13||AGNC||American Capital Agency Corp||Sell||$21.24|
|11/08/13||TSLA||Tesla Motors Inc||Buy||$135.83|
|10/29/13||TSLA||Tesla Motors Inc||Buy||$159.67|
|10/29/13||AGNC||American Capital Agency Corp||Sell||$21.82|
1. Past performance is no guarantee of future results.
2. Performance of the portfolio 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 portfolio. 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 portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. 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 Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio 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. Portfolio 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 portfolio 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 portfolio 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.
12. This portfolio was launched on Covestor on March 25, 2013. Trading history prior to launch was audited by Covestor and is consistent with current portfolio strategy. Manager performance incorporates this historical data. This data has not been audited by an independent firm.
Certain monthly and annual rates of return shown in this presentation, and the resulting performance statistics, are hypothetical performance based upon a portfolio return. This portfolio was created based on assigned position weightings that drive the underlying trading of client accounts at Marketocracy. Therefore, there were no dollars traded to create the performance track record that is displayed. There were no expenses or trading commissions included in the returns.
This methodology was used to generate prior monthly performance data from May 8, 2008 to March 25, 2013, and carried forward at Covestor.com, using certain assumptions that are further described below. Covestor recalculated the performance data provided by Marketocracy to build the performance charts.
Hypothetical performance results have many inherent limitations, some of which are described below. No representation is made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and any results and the actual results subsequently achieved by any particular trading program.
The historical Marketocracy portfolio’s returns are the result of the portfolio manager’s trading decisions made in real-time. Hypothetical market orders are assumed to be filled at the stock’s next actual market price after the trade is entered for up to 10% of the actual trade’s volume. All trade fills are charged a commission of 5 cents per share. Dividends and other earnings are reinvested. Unlike an actual performance record, simulated results do not represent actual investment performance or trading. Since the trades have not actually been executed, the results may have under- or over-compensated for the impact of any of certain market factors, such as the effect of limited trading liquidity. The results presented reflect past performance and should not and cannot be viewed as an indicator of future performance of the portfolio.
Beginning March 25, 2013, the performance charts, based upon a substantially similar strategy, reflect actual results.
For all portfolio performance results, there are inherent limitations that investors should understand. The results shown are not an indicator of the future returns a client will realize by investing in the portfolio. Actual client results may differ from the Marketocracy portfolios for a variety of reasons.
Marketocracy portfolio portfolios appearing at Covestor.com are allowed to invest in securities that trade on a U.S. stock exchange. Options, futures, commodities, leverage, and shorting also are not allowed by Covestor in these Marketocracy portfolios.
Consequently, the S&P 500, Index, which consists of 500 leading companies, is used as a benchmark for comparison. Indices are unmanaged, do not incur management fees and expenses, and cannot be invested in directly.
Marketocracy portfolio portfolios appearing at Covestor.com are not personal recommendations for any particular investor and do not take into account the financial, investment or other objectives and may not be suitable for any particular investor. Before buying, investors should consider whether the investment is suitable for themselves and their portfolio.