Macro Tsimmis

intelligently hedged investment

Jan 07 Intelledgement Speculative Opportunity Portfolio Report

Posted by intelledgement on Wed, 14 Feb 07

Position Purchased Shares Paid Cost Now Value Change ROI CAGR
TMY 03-Jan-07 300 3.30 998.00 3.35 1,005.00 n/a 0.70% 9.55%
DNDN 10-Jan-07 248 4.01 1,002.48 4.29 1,063.92 n/a   6.13% 181.89%
PTR 23-Jan-07 8 127.17 1,025.36 123.33 986.64 n/a -3.78% -82.75%
cash       6,974.16   6,991.60      
Overall 03-Jan-07     10,000.00   10,047.16 0.47% 0.47% 6.33%
Global HF 03-Jan-07     10,000.00   10,119.00 1.19% 1.19% 16.69%
NASDAQ 03-Jan-07     2,415.29   2,463.93 2.01% 2.01% 29.70%

Position = security the portfolio owns
Purchased = date position acquired
Shares = number of shares the portfolio owns
Paid = price per share
Cost = what portfolio paid (including commission)
Now = price per share
Value = what it is worth as of the date of the statement (# shrs multiplied by price per share plus value of dividends)
Change = Change since last report (blank for positions new since last report)
Return on Investment = on a percentage basis, the performance of this security to date
Compounded Annual Growth Rate = annualized ROI for this position (to help compare apples to apples)

Notes: The benchmark for this portfolio is the Greenwich Alternative Investments Global Hedge Fund Index, which historically (1988 to 2006 inclusively) provides a CAGR of around 15.4%. For comparison’s sake, we also show the NASDAQ index, which over the same time frame has yielded a CAGR of around 11.0%. Note that for the portfolio, dividends are added back into the value of the pertinent security and not included in the “cash” total (this gives a more complete picture of the ROI for dividend-paying securities). Also, the “Cost” figures include a standard $8 commission and there is a 3% rate of interest on the listed cash balance.

Transactions: We took three positions in January allocating$1,000 for each one (10% of the starting value of the portfolio).

• 3 Jan – Bought 300 TMY for $3.30/shr
• 10 Jan – Bought 248 DNDN for $4.01/shr
• 23 Jan – Bought 8 PTR for $127.17/shr

Comments: A great month for the market, running at nearly triple its average ROI; a muted start for us. If the market is really going to be up 30% this year, that implies a continuing tight market for energy, which is good news for two of our three current holdings (although the value of TMY is much more dependent on operational performance than the world market price of oil).


Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: