Bookkeeping: 'Rising Tide' Performance Week 10

Week 10 performance of the mutual fund

Comments: This was a breakout week for the fund as most of the top 10 fund holdings enjoyed very large gains. With the SP500 AND Russell 1000 both gaining approximately 0.30% this week, the Rising Tide Growth Fund was up 3.60%, generating a 3.30% outperformance versus both measuring sticks for the fund. To put that into perspective the first 9 weeks the fund was +4.1% vs the SP500 and +3.9% vs the Russell 1000, so this week alone almost matched the first 9 weeks of work. Obviously, I am thrilled with this week, and at around 1 PM Thursday the results were even more sparkling (1% higher across the board) but one cannot be too greedy. One week like this every quarter would be a coup.

Agriculture, coal, and networkers were back in favor this week after the market chased after washed out groups such as retailers, home builders, and financials last week. If not for the exposure to lagging solar, especially LDK Solar (LDK) the fund would of been even better off this week, but in due time I think those investments will still pay off well; just not this week.

Price of Rising Tide Growth: $11.436
Performance to date (vs Aug 3, 2007): +14.36%

SP500: 1,561.8 (+6.59%)
Russell 1000: 850.8 (+6.85%)

Fund return vs SP500: +7.77%
Fund return vs Russell 1000: +7.51%

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