In mutual fund world NAV = Net Asset Value = Price of your mutual fund
Every Marketocracy.com fund starts with $1 million and a NAV of $10.00
We just hit a milestone as of 2:30 PM, of NAV = $12.00 meaning 20% return as we near the end of quarter 1 of the fund's life; just over 4 days to go to the quarter is in the books.
Been a fabulous day with the fund up 2.45% on the back of a bevy of winners. I have taken cash up to 11.75% with the sales today in some of the high fliers.
If the market weakens I will be applying this cash into some short ETF positions but right now I think all bears are cowering in the cave until Uncle Al unleashes the next bags of liquidity into the market. As I've mentioned the past week, the playbook is very clear whether it be 25 basis or 50 basis - usually the market will rally on unexpected events - is anything Uncle Al potentially going to do Wednesday going to surprise us anymore? It just seems like deja vu with 6 weeks ago where everyone assumed 25 basis points, and then we got the aggressive move to 50/50 fed funds/discount. Will the same move really 'surprise' this time? Pundits were saying before the last meeting if the Fed were so desperate that it needed to cut by 50 that should spook the market because it meant they saw something far worse than they were letting on - however the market did just the opposite. Hence, I wonder if *this* time, when everyone expects a cut, and it would not surprise to see 50, and *many* expect the same playbook (fed cuts, market rises, all problems go back under the bed), that the opposite will happen. Whatever the 'reaction' in the near term, I am going to play it with a more cautious stance - I don't like big market moving events which can move things up or down tremendously on the basis of something that has very little to do with each individual companies fundamentals.
It's been a stellar past month, and this pace can't continue indefinitely, but I continue to knock on all wood products I pass by. Usually when it's this 'easy', the market has a way of knocking your teeth out :) So I am going to find my mouth guard.
Long teeth
Monday, October 29, 2007
Milestone of $12.00 NAV Reached
Posted by
TraderMark
at
2:33 PM
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3 comments:
Congratulations on the fund reaching $12 NAV and also on the decision to add CF ahead of earnings.. Fabulous numbers they psoted!! Wish I had a position in that name. Its time to add that name on any pulbacks!!
Holy smokes...CF beat estimates by nearly 50%. I'd say your NAV should see another nice pop tomorrow as well :). Very nice call.
thanks
I'm peeved I lowered by exposure to STP so much right before it popped but you cannot be in all of them at once. CF doesn't seem to get the respect of the others the others thats for sure, hopefully we get some meaningful multiple expansion in the coming quarters as people realize this is a real story with real growth - I know its not sexy like solar but the gross margin expansion is unreal.
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