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
Mar 29, 2008
value - View Profile
Personal Track Record
| Inception date | November 25, 2007 |
| Holding Period | Buy and hold |
Performance and Risk
Performance Summary (as at end of February 08, 2012)
| Inception November 25, 2007 | Member | S&P 500 |
|---|---|---|
| Month to date (%) | 4.68 | 4.41 |
| 3 month (%) | 18.37 | 4.76 |
| 1 year (%) | -9.87 | 2.09 |
| Annualized since inception (%) | -13.65 | 0.68 |
| Since inception (%) | -45.93 | n/a |
| Sharpe (annualized) | -0.27 | 0.01 |
| % of positive months | 47.06 | 60.81 |
Past performance is not indicative of future performance
Commentary - Latest Posts
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Market report: 2007-11-29 November 29, 2007
Mr. Market is pricing the financial/credit/mortgage problems of 2007 - 2008 into today's market. Can you guess what Mr. Market will be pricing in at this time next year? The recovery of the financial/credit/mortgage markets in 2009 -2010 of course. Mr. Market trains his focus on short-term trends, never looking past the next several quarters. Why? Over 90% of equities are owned by institutions that are forced to be held accountable for short term results. Why? The general public (aka......
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Delta Financial Lesson November 26, 2007
Never underestimate leverage. This business is by nature heavily leveraged. We saw liquidity problems in August and should have anticipated the possibility of more problems. Either way if the business model wasn’t based completely on leverage and reliant on macro events the company wouldn’t be brought to its knees by such events. Remember, leverage can turn minor problems into a disaster and major problems can result in bankruptcy. Stay away from highly leveraged business or business models in......
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Delta Financial Rationale November 26, 2007
A small subprime fixed rate lender. High insider ownership. CEO is the second largest shareholder and controls 25% of the business. They do not participate in the ARM market. Their average LTV in their portfolio is 80%. They are getting hammered because of the subprime mortgage meltdown and liquidity crisis. They have fought through times like this before and bounced back a stronger company. They have a book NAV of $6.70 / share. Their securitized and sold loans alone running off free and......
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Radian Group Rationale November 26, 2007
Radian is a financial guaranty and PMI business that has generated fantastic returns over the past decade. They have grown NAV at a rate of 17% / year for the past 10 years. Their current NAV is $42. Assuming a conservative NAV growth of 10% over the next 5 years we arrive at a NAV of $67 per share. This business will trade at 1.5x book sometime over the next 5 years assuming they are healthy and in a positive environment. This is another case of macro events beating down a solid......
- Expertise 1-5 years
- Country United States
- State Idaho
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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.