Bookkeeping: Rising Tide Performance Week 9

Week 9 performance of the mutual fund (EDIT, first week changing measurement from Russell 2000 to Russell 1000)

Comments: The SP500 AND Russell 1000 both gained 2.10%, as the market rally spread out from the big caps to the small caps. Rising Tide Growth Fund was up 2.11% this week so flat with the 2 indexes measured against.

Most of the sectors the fund is invested in were a bit out of favor for portions of this week, or to put it better the areas the fund has very little exposure to (i.e. retail, financials, housing) had quite potent rallies off of washed off levels. Also the fund took some relatively large individual hits, especially in the solar sector, but mostly with the index short ETFs. The index shorts are supposed to provide some protection in case of the market falling, but the market never falls anymore. (not for more than 3 hours that is). Monday and Friday this week were not days to have any index shorts on. I did apply a lot of the cash this week to long positions, and am mostly invested so most new buys will have to be offset with sales elsewhere.

As an aside since the fund launched the 9 week return is 10.39%, that prorates to a 60% yearly return. But the SP500 is going bonkers too, on pace for a 36% return if it kept up the pace of the past 9 weeks, and the Russell 2000 is on pace for 52% yearly return. What is this, China or something??

Price of Rising Tide Growth: $11.039
Performance to date (vs Aug 3, 2007): +10.39%

SP500: 1,557.6 (+6.31%)
Russell 1000: 848.1 (+6.51%)

Fund return vs SP500: +4.09%
Fund return vs Russell 1000: +3.88%

Since the market cap of the median stock in the Rising Tide Growth fund (median $9.9 Billion as of October 07) is significantly below the SP500 index (median $13.1 Billion as of September 07) but higher than the median market cap in the Russell 1000 (median market cap $5.8 Billion as of September 07), I am measuring the fund against both indexes. Click here to see fund's holding by market cap as of October 2007.

Basis for indexes is 5 day weighted average of closing prices Aug 3-9
SP500 : 1,465.2
Russell 1000 : 796.2

To see why I use the 5 day weighted average of the first 5 trading days to smooth out the volatility of the indexes as the fund launched, see here.

Please click here: fund performance for previous updates