Fund my Mutual Fund: Bookkeeping: Cutting Ctrip.com (CTRP) to Almost Nothing

FUND MY MUTUAL FUND

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/short" mutual fund.

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.

Friday, May 2, 2008

Bookkeeping: Cutting Ctrip.com (CTRP) to Almost Nothing

Much like Sohu.com (SOHU) [Apr 28: Sohu.com Crushes Estimates - Up 15%] I truly do not have enough Ctrip.com (CTRP) - the Chinese travel giant. What a move. I don't have much, but I am essentially selling almost all I have and just keeping a measly 5 shares. This move has been epic, but the company now trades at well over 60x forward estimates. Too rich for me (that is why I have not had a large position) but it gone from under 50x earnings to well over 60x in a span of 2 weeks.

Long both names mentioned in fund; no personal position

Fund my Mutual Fund

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