Macro Tsimmis

intelligently hedged investment

Feb 07 Intelledgement Speculative Opportunity Portfolio Report

Posted by intelledgement on Wed, 14 Mar 07

Position Purchased Shares Paid Cost Now Value Change ROI CAGR
TMY 03-Jan-07 300 3.30 998.00 4.01 1,203.00 19.70% 20.54% 238.21%
DNDN 10-Jan-07 248 4.01 1,002.48 4.64 1,150.72 8.16 14.79% 179.55%
PTR 23-Jan-07 8 127.17 1,025.36 116.37 930.96 -5.64% -9.21% -62.47%
IFN 13-Feb-07 24 41.76 1,010.24 39.10 938.40 n/a -7.11% -83.41%
FXI 27-Feb-07 10 95.00 958.00 99.10 991.00 n/a 3.44% 23,558,534.25%
LMGGF 28-Feb-07 73 13.55 997.15 13.55 989.15 n/a -0.80% n/a
cash       4,008.77   4,043.68      
Overall 03-Jan-07     10,000.00   10,246.91 1.99% 2.47% 17.24%
Global HF 03-Jan-07     10,000.00   10,182.75 0.63% 1.83% 12.54%
NASDAQ 03-Jan-07     2,415.29   2,416.15 -1.94% 0.04% 0.23%

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 February allocating $1,000 for each one (10% of the starting value of the portfolio).

• 13 Feb – Bought 24 IFN for $41.76/shr
• 27 Feb – Bought 10 FXI for $95.00/shr
• 28 Feb – Bought 73 LMGGF for $13.55/shr

Comments: Turn, turn, turn! The market gave back the gains of January while we were up 2% for the month…not bad, considering we are only 60% invested (and two of those six positions came on the last day and next-to-last day of the month). Getting fully invested is taking longer than we had expected…there are plenty of good-looking opportunities out there, but selecting among them and then presenting our thesis takes time…so, we cheated this month, stealing two downbeaten picks from our “big sister” IMSIP…you know if IMSIP is seeing someone, the odds of getting jerked around or dumped are virtually nil. So far, the secondhand beaus are kinda mixed: up $30 on FXI, down $70 on IFN…but even if nothing else comes of it, we already learned that an ROI of 3.44% a day will net you 23MM percent in a year…see, this portfolio is both fun and educational, just as promised!


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