Friday, November 2, 2007

Bookkeeping: 'Rising Tide' Performance Week 13

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Week 13 performance of the mutual fund

Comments: Year 1, Quarter 1 of existence is in the proverbial books and the fund had its best week yet. With the markets comatose the first half of the week, awaiting the Fed meeting - and finishing with choppy action the 2nd half of the week, the indexes I track closed down roughly 1.6% for the week. Rising Tide Growth Fund on the other hand, was able to manage a +1.77% return, so a roughly 3.4% out performance this week. What a way to close the quarter; up in a down tape.

I am reviewing my positions and I am not sure if there is 1 specific thing/sector that stands out. It just appears most of the holdings held up very well, I avoided any major blowouts in larger positions and a 20% cash/10% short ETF position heading into the Fed meeting proved fruitful. This makes 4 weeks in a row of beating the indexes I track by >2%. I will do a more in depth quarterly analysis in a separate entry, but my unofficial yearly goal is to beat the S&P500 by 15% a year, for 3 years, and have been able to achieve that in the first quarter alone.

Price of Rising Tide Growth: $11.925
Lifetime Performance to date (vs Aug 3, 2007): +19.25%

Comparable S&P 500: 1,509.7 (+3.03%)
Comparable Russell 1000: 823.1 (+3.37%)

Fund return vs S&P 500: +16.22%
Fund return vs Russell 1000: +15.88%

Last week's results here.

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 all fund's holdings as of mid 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


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