Portfolio Update: Up 9.05% Since Nov. 15th Inception

Well what do you know? That really was Santa darting across the sky. Our missive typed in the wee hours of Friday proved to understate Saint Nick’s jolly mood, what with green splashing across market terminals across the land. This posting will serve as an update to the portfolio. We’ll return with more analysis later. All things considered, we’re pleased with our 9.05% return. Generating that performance level in less than two months is respectable, all the more so given current market conditions. Market volatility has been nothing short of wicked. The last two quarters have marked some of the most challenging markets we’ve seen in a very long time.

Portfolio Accounting Update

Pediment Exploration: On December 19th, our limit order for another 2000 shares at C$2.70 executed. C$2.70 was the low for the previous day, but in the real world it would be rare to get a fill at the bid. The price jump on Friday and return to slightly higher volume suggest that tax loss selling may be over in Pediment. Time will tell. Our point was not to attempt to grab the exact bottom for our additional shares, but merely to add exposure. This time next year, we will not be surprised to see the stock trading at more than twice current levels. Pediment will be recorded in the model portfolio table with a Canadian purchase price of C$2.70 per share, multiplied by 0.9954, which was the opening exchange rate for Canadian/US dollars. Thus, the US basis price is $2.68758.

Agrium, Inc.: 100 shares were purchased at the market open on the NYSE. The portfolio table basis per share will be recorded as $62.55 per share.

Hanfeng Evergreens: 300 shares were purchased at the market open on the Toronto Stock Exchange. Trading opened at C$13.13. We will multiply this Canadian basis by 1.004, which was the opening exchange rate for Canadian/US dollars. Thus, the US basis price is $13.18252

AGCO Corp.: 100 shares were purchased at the market open on the NYSE. The portfolio table basis per share will be recorded as $68.69 per share.

Transocean, Inc.: 100 shares were purchased at the market open on the NYSE. The portfolio table basis per share will be recorded as $137 per share.


CLICK HERE FOR FULL PORTFOLIO:



Profile, Disclosure, Compliance and Disclaimer: Click Here