Wednesday, August 15, 2007

Mission Statement

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Blog Launch: (Aug 07) This blog will chronicle my stock ideas in my mock mutual fund run via Marketocracy.com; which I'll run in a manner similar to how I'd run a real "long biased" mutual fund. A common question asked is why do you own so many long positions if you're negative on the economy. Answer: I am trying to compare my performance versus the mutual fund industry which is "long" biased - hence I am (almost) always 60-100% "long" with 0-35% cash and 0-25% "short" exposure (only through ETFs). Therefore, my long term results can be compared to the average mutual fund in an 'apples to apples' comparison. I want to beat the industry averages focusing on good stock picking as the main tool.

The fund is named ; click on link for fund performance & statistics. I measure the fund vs S&P 500 - start point 1465.6 and Russell 1000 - start point: 796.2. While I'll invest anywhere I see profit opportunity, the median stock is focused in the mid cap area (with some bias to larger caps as well), who benefit from large macro trends - hence the name. It was launched on August 5, 2007. Please see the fund description on the fund page itself: for further details on how it is run, and specific strategy; however my top positions are listed on the right sidebar and updated weekly.

My goal is to run a "real" mutual fund, hence the blog name. However it takes about approx $7 million in assets to break even so I hope to get there by the end of year 1 of fund "life"; as we track onto a pace to get halfway there we'll get going on a launch ($3M+ pledged already). At this point we are on track by end of 2008. My path has been (1) Build a track record, (2) Build a transparent platform so readers can see what I am thinking and why I buy and sell stocks (3) Through items 1 and 2, convince readers they want to be part of this unique story where individuals create something outside the "mainstream" system. My unofficial goal is to beat the indexes I track by 15% annualized per year, which would put my fund performance in elite company. We are soundly beating that thus far.

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