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Using long refined financial models, screens the market for companies based on their relative stock price movement and valuations over time. From this shortlist, looks deep into their financial forecasts to assess prospects for earnings growth. Long only buy and hold model.
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Performance and Risk
Performance Summary (as at end of )
| Inception | Manager* | S&P 500 | Avg. Sub. |
|---|---|---|---|
| Month to date (%) | |||
| 1 month (%) | |||
| 3 month (%) | |||
| 1 year (%) | |||
| Annualized since inception (%) | ? | ? | ? |
| Since inception (%) | n/a | ||
| Sharpe (since inception) | n/a |
* Includes trades that fail Covestor Trading Rules
Past performance is not indicative of future performance
Strategy
Summary
Using long refined financial models, screens the market for companies based on their relative stock price movement and valuations over time. From a shortlist of potential investments, looks deep into their financial forecasts to assess their fundamental prospects for earnings growth, looking for hidden value. Long only buy and hold model.
Asset Allocation
Top Holdings (excluding cash) (as at end of )
| Symbol | Security | Allocation(%) |
|---|---|---|
| BIL | SPDR Barclays Capital 1-3 Month T-Bill ETF | 7.55 |
| KFN | KKR Financial Corp. | 3.61 |
| TPCG | TPC Group, Inc. | 3.58 |
| Top holdings total (excluding cash) | 14.74% | |
| Cash | 85.26% | |
| Total number of holdings | 3 |
Investment Report
August 2010
July produced a nice rebound in stock prices. Early in the month, small investor sentiment (as measured by the American Association of Individual Investors) shifted strongly to the bearish side and I upgraded my sentiment indicators from bearish to neutral. Sentiment has continued to be tilted toward fear and caution, but not so much as to move my indicators bullish.
More importantly, my trend-following indicators remain negative and, until that situation changes, I am assuming the market to be in a downtrend. If the market is able to show continued strength, some of these indicators may turn bullish and I would become more constructive on the outlook. Until then I am taking a cautious approach and maintaining a cash position around 80-90% of my portfolio. While this environment is prone to whipsaws that can frustrate both bulls and bears, I think a cautious posture is warranted.
Transactions
Latest Transactions (as at end of )
| Executed | Symbol | Security | Type | Price |
|---|---|---|---|---|
| August 24, 2010 | ALG | Alamo Group, Inc. | Sell | $19.30 |
| August 16, 2010 | LXK | Lexmark International, Inc. | Sell | $36.43 |
| August 02, 2010 | TPCG | TPC Group, Inc. | Buy | $16.76 |
| August 02, 2010 | GLD | SPDR Gold Trust | Sell | $115.57 |
| June 30, 2010 | SPEC | SPECTRUM CONTROL INC | Sell | $14.11 |
| June 30, 2010 | SGK | Schawk, Inc. | Sell | $14.86 |
| June 30, 2010 | LCUT | Lifetime Brands, Inc. | Sell | $15.18 |
| June 30, 2010 | AGP | AMERIGROUP Corporation | Sell | $33.14 |





