Macro Tsimmis

intelligently hedged investment

Aug 07 Intelledgement Speculative Opportunity Portfolio Report

Posted by intelledgement on Thu, 13 Sep 07

Position Purchased Shares Paid Cost Now Value Change ROI CAGR
TMY 03-Jan-07 300 3.30 998.00 2.03 609.00   12.78% -38.98% -52.84%
PTR 23-Jan-07 8 127.17 1,025.36 144.33 1,192.42 -0.09%   16.29% 28.48%
IFN 13-Feb-07 24 41.76 1,010.24 46.45 1,114.80 1.53% 10.35% 19.81%
FXI 27-Feb-07 10 95.00 958.00 150.31 1,503.10 7.43% 56.90% 143.34%
FDG 20-Mar-07 44 22.68 1,005.92 32.72 1,491.07 -1.18% 48.23% 140.27%
ELN 04-Apr-07 129 13.90 1,801.10 19.38 2,500.02 3.47% 38.81% 123.40%
VRTX 18-Apr-07 57 31.65 1,812.05 38.96 2,220.72 20.62% 22.55% 73.37%
NBIX 22-May-07 158 11.33 1,798.14 9.97 1,575.26 -1.97% -12.40% -38.03%
BQI 13-Jul-07 565 3.35 1,900.75 5.04 2,847.60 14.55% 49.81% 1,935.14%
GSS 19-Jul-07 451 4.19 1,897.69 3.09 1,393.59 -16.94% -26.56% -92.74%
GSS 24-Aug-07 613 3.08 1,896.04 3.09 1,894.17 n/a -0.10% -5.02%
cash       -6,103.29   1,577.07      
Overall 03-Jan-07     10,000.00   19,918.82 3.69% 99.19% 185.39%
Global HF 03-Jan-07     10,000.00   10,634.52 -1.64% 6.35% 9.81%
NASDAQ 03-Jan-07     2,415.29   2,596.36 1.97% 7.50% 11.63%

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: Added a second irresistibly-priced tranche of GSS.

News:

Comments: A genuinely quiet month, during which we lead our little parade, outdistancing both the hedgies and the NASDAQ. VRTX was up 20% on speculation they will soon be announcing their plans for phase 3 telaprevir trials. BQI was up 15% on continued realization that their bitumen reserves are the real McCoy. For no particular reason TMY was up 13% and GSS was down 17%. (OK, the BIOX plant underperformed again in 2Q07…so, what else is new?) Overall we are now +99% so far in 2007 compared to +8% for the NASDAQ and +6% for the Greenwich Alternative Investment’s hedge fund index.

Advertisements

Leave a Reply

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

WordPress.com Logo

You are commenting using your WordPress.com 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 )

Google+ photo

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

Connecting to %s

 
%d bloggers like this: