We started our private investment fund on 13 September 2009 - capitalised at 100k. Our strategy was to split our portfolio into 2 trading arms, with 20k each (one for each partner), and a long only equity portfolio of ~20k; with cash of about 40k to buffer our trading accounts against black swan events.
On 13 November 2011, 2 years 2 months later, the net value of our fund (including open positions P/L) stand at $175k, up 75%. Our performance breakdown is as follows:
1. Trading account A: 20k to 75k (+275%)
2. Trading account B: 20k to 30k (+50%)
3. Long only Equity Portfolio: 30k to 35k (+16.6%)
4. Cash: 35k
NET PORTFOLIO Performance: +75% (S&P 500 over the same period: +19.29%)
We have lightened up our trading portfolios - biggest position remains short Amazon, US Tech, long agriculture ETFs. Our equity portfolio are as displayed on the right hand side. Note that some of the “losses” displayed does not reflect cash back (Astro Japan, Straits Resources), takeovers (Chemgenex), and Continue…
Lululemon is up 14.87% - now trading at $61.40 - OUCH!
Michelle Tan, analyst from Goldman had a BUY on Lulu last week. At the same time, we fired a tiny short in the yoga retailer. Feeling the pain at the moment, but very happy its up. Our initial position usually serves as a depth gauge.
One concern we have is the huge number of shorts - up to 10% of shares short at the moment. NOT a good sign.
We started our private investment fund on 13 September 2009 - capitalised at 100k. Our strategy was to split our portfolio into 2 trading arms, with 20k each (one for each partner), and a long only equity ... continue
We wrote in August 2010 that we were shorting Australian Retail - that the "good times" won't last forever. Going to shopping centres back then, one would not be aware that the world just went through GFC ... continue
Another good day for Netflix - up more than 14% when we looked. Order to close HALF our Netflix holdings at $120. That's the minimum target for our long as the gap closes. Invariably, it will overshoot ... continue
I cannot imagine why Americans would vote for anyone other than Ron Paul. The truth coming out of Ron Paul is refreshing. continue
Opened a small short Lululemon at $53.50 - all time high is $64, with current PE of 47 and market cap of 7.7b. We have been scoping out Lululemon retail shops in Australia - looks dead even ... continue
We continue to accumulate Australian listed companies trading below cash/liquid assets - balanced by our shorts in Amazon and Chipotle. In an indirect (admittedly alot RISKIER) way, this is what Jim Rogers is doing: Long Commodities, Short US Tech. We are buying resource companies trading at significant discount to cash, and recently even picked up a holding micro cap company ... continue
Short Amazon $180 - 100 shares Short Russell (RUT) 845 - $100/point continue
