Wednesday, November 17, 2010

Tracking Portfolio Shuts Down on December 3, 2010

Changes ahead:

1)  I will ending all portfolio activities in my tracking portfolio as of Friday Dec 3rd, 2010. That will finish out the 12th of 13 tracking periods (4 weeks) of 2010, and finish the portfolio mechanism started in August 2007.  (See performance / portfolio tab)   While I'd like to finish out the year (2010) for intellectual purposes, I need that time to ramp up for the real launch - bigger fish to fry.

2) Starting Monday Dec 6th, I'll be moving my "blogging" to the Commentary section of the new website.  I anticipate communicating daily although not at the pace I do now - I have to see what I can manage and what would be 'interesting' since I cannot talk about all the same things I can now.  In the commentary of new site, I'll be mostly talking economic and market dynamics since per SEC rule I cannot discuss stock transactions in real time.  Hence there will be no "Bookkeeping" type entries at the new website.  I cannot make any "forward looking statements" so even on the market commentary I need to figure out exactly what I can, and cannot say so as not to run afoul of the SEC.  Frankly I would be the only fund manager I know of doing any sort of "daily commentary" on the interwebs, so I am going to have to figure it out with legal counsel as I go along.  My main concern is commentary on my market view - what I can say, and what I cannot.  So in a broader sense, I'll only be able to talk about certain things but the witty acerbic, reality bites viewpoints will still be there.

Each month end I'll update portfolio positions, and at that time I'll be allowed to discuss the previous month's portfolio transactions.  I anticipate doing a run down of the larger moves I made  - sort of like my performance updates each 4 weeks now, although somewhat less granular.  Hence an investor won't have to wait for an update that comes only once every 90 days, (45 days after the close of the quarter) before information is filed with the SEC to know what you own, or what the heck I am doing - rain or shine. (of course with my style I could be out of many positions 45 days after the end of a quarter!)  My goal as stated in 2007 is to give investors a great level of transparency - but have to balance that with what I am allowed to do per SEC rules, and what makes sense for competitive reasons.


As for Fund My Mutual Fund website, I am still interested in running an Apprentice program here to find potential future managers for 2013+.  [Jul 28, 2010: Fund My Mutual Fund - The Apprentice]   If fund #1 is successful, my bigger goal is to have a small family of funds with the same theme of being alternative investments - i.e. not the 98-100% long, 0-2% cash, vulnerable to all the melt downs that dominate the industry in a Fed induced bubble creation/deflation environment.  I do believe "alternative" funds are the way of the future [Jun 11, 2010: Marketwatch - More Investors Turning to Flexible Mutual Funds] - there are only about 100-ish or so out of some 8000 mutual funds right now.... and there were far less when I launched this site in 2007.

But this idea entails (a) fund #1 is a success and (b) I can find good fits in terms of people the coming 2-5 years.   Obviously point (a) is my sole focus in the near term, and from (a) comes (b) hopefully.  Other than an Apprentice program there are some new exciting web outlets letting "small fry" showcase their skill sets in a transparent manner - so I am excited about that new frontier and wish those sites were around when I started this adventure - would have saved me a few thousand hours of work.

The FMMF website will need a whole redesign if I end up going "Apprentice" path (the "apprentices" would be doing the weekly commentaries as my energy will be elsewhere); otherwise FMMF will probably be headed to the glue factory in January 2011.


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