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| Total Value: $4,209,033.48 |
Cash Value: -$1,789.52 |
Stock Value: $4,210,823.00 |
Shares: 100,000 |
Price: $42.09 |
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| Fund Performance for crossy |
May 22, 2012 |
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fund information |
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| Fund
Manager:
crossy |
Inception:
Aug 06, 2001 |
| Description: |
| CIAF uses a "value arbitrage" methodology. Present and plausible future metrics are estimated
and compared. It is strictly "long only". If one wants to be "market neutral" he has to care about the short side for himself.
Selling criteria is reached if a position gets to the top end of the industry typical value metrics corridor. Some special situations are held longer until the underlying equity story unfolds.
A "Thematic Network" concept is employed. Right now it's "Oil & Gas", "Natural Resources",
"Rule Breaking Telecoms", "Generic Pharmas" and occasional techstocks. This is a microeconomic
approach. In addition, special situations (recapitalization, spin-outs, etc. are pursued)
If an industry gets out of favour fundamentally, it's de-emphasized and the folio reshuffled.
Some typical and important value metrics:
Oil & Gas ... Value metrics are flowing barrel production, EV/R, EV/EBITDA and P2/P3 potential (expected upside), PV-10 ratio to EV
Natural Resources ... Similar metrics to Oil & Gas, PV-10 ratio to EV
... both industries will thrive on an improving economy, as can be witnessed by the underlying prices of the respective commodities
Techstocks, Generic Pharmas ... EV/R, Revenue growth, EBITDA growth, Gross Margin
... Techstocks are ultry-cheap at the moment and there will be a time when they could provide the necessary input on economic productivity
to jumpstart economic growth in a multitude of vertical markets. Maybe 2-3 years away.
Rule Breaking Telecoms ... Those doing somtehing unusual like FTTH, non-reliance on incumbent, creative deals etc. (EV/R, EV/EBITDA, top line growth, debt/equity)
... NGN/FTTH wireline carriers (KTC, CTEL, VZ) and fiber-based CLECs that survived have a great asset base to attack their competition
often not reflected in the valuation (EV/R, Gross Margin, EBITDA Margin) of these companies. Unlike their competition, the top line of these
firms is solidly growing, often in excess of 10% a year
Down the road some sub-segments of the financials might get interesting again (Asset management, Insurance, Business development companies BDC's, Intl. Banks)
I cannot predict the market, rather try to find much undervalued niches in interesting industries. This "value" and "growth at a reasonable price" approach
has performed nicely during the techstock crash and the impasse last year, including the ensuing fall-out period in the aftermath of both shocks. My own macro
view (not that much important for the portfolio) is that we might get a surprise in the curing of the conditions, last year's liquidity crisis has produced.
Personally, I often compare the "financial crisis of 2008/2009" with the Asian Financial Crisis more than 10 years ago. While the events triggering the
economic shocks were certainly different, the kind of shock (a "liquidity shock") in both cases was very similar. The more flexible countries (South Korea, Taiwan, China)
came out of the AFC within 18 months and emerged stronger. We might be surprised in how smooth the US economy, along with some others, could be adjusting to a post-fallout trajectory today. |
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fund positions by sector
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| Color |
Name |
Portion |
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Consumer Discretionary |
4% |
 |
Energy |
19% |
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Health Care |
5% |
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Industrials |
25% |
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Information Technology |
23% |
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Materials |
11% |
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Telecommunications |
13% |
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fund positions by style |
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| Color |
Name |
Portion |
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Large Cap Growth |
2% |
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Mid Cap Growth |
6% |
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Mid Cap Value |
3% |
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Small Cap Growth |
12% |
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Small Cap Blend |
3% |
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Micro Cap Growth |
22% |
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Micro Cap Blend |
16% |
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Micro Cap Value |
35% |
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Value |
Blend |
Growth |
|
| Large |
0% | 0% | 2% | 2% |
| Medium |
3% | 0% | 6% | 9% |
| Small |
0% | 3% | 12% | 15% |
| Micro |
35% | 16% | 22% | 73% |
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38% | 19% | 42% |
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recent returns
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| RETURNS |
| Last Week |
-2.47% |
| Last Month |
-11.75% |
| Last 3 Months |
-18.77% |
| Last 6 Months |
7.37% |
| Last 12 Months |
-21.52% |
| Last 2 Years |
20.30% |
| Last 3 Years |
74.06% |
| Last 5 Years |
4.25% |
| Since Inception |
320.90% |
| (Annualized) |
14.23% |
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|
| S&P500 RETURNS |
| Last Week |
-1.01% |
| Last Month |
-4.28% |
| Last 3 Months |
-2.49% |
| Last 6 Months |
14.57% |
| Last 12 Months |
2.16% |
| Last 2 Years |
26.21% |
| Last 3 Years |
57.95% |
| Last 5 Years |
-2.62% |
| Since Inception |
35.43% |
| (Annualized) |
2.85% |
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| RETURNS
VS S&P500 |
| Last Week |
-1.46% |
| Last Month |
-7.47% |
| Last 3 Months |
-16.28% |
| Last 6 Months |
-7.19% |
| Last 12 Months |
-23.67% |
| Last 2 Years |
-5.91% |
| Last 3 Years |
16.12% |
| Last 5 Years |
6.87% |
| Since Inception |
285.47% |
| (Annualized) |
11.38% |
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fund rankings |
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For the six month period ending
December 31, 2011 Crossy's Industry Analysis Fund outperformed 4.3% of the other funds on our site. |
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|
 Crossy's Industry Analysis Fund has been in the m100 (the list of the overall top 100 funds on our site)
42
times |
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Crossy's Industry Analysis Fund has been in the m10 (the list of the overall top 10 funds on our site)
32
times |
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| ALL
RANKINGS FOR Crossy's Industry Analysis Fund |
| Date |
1 Month |
3 Months |
6 Months |
1 Year |
| Dec 31, 2001 |
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86.7%  |
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| Mar 31, 2002 |
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59.1% |
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| Jun 28, 2002 |
13.1% |
13.0% |
22.9% |
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| Sep 30, 2002 |
28.6% |
9.0% |
9.3% |
21.0% |
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| Dec 31, 2002 |
36.0% |
25.1% |
3.1% |
8.5% |
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| Mar 31, 2003 |
6.0% |
97.7% |
77.8% |
8.4% |
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| Jun 30, 2003 |
96.9% |
97.8% |
#60  |
91.7% |
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| Sep 30, 2003 |
92.6% |
#81 |
#55 |
98.0% |
94.4% |
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| Dec 31, 2003 |
76.1% |
95.7% |
#80 |
#19 |
91.6% |
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| Mar 31, 2004 |
13.7% |
65.3% |
92.7% |
#49 |
93.5% |
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| Jun 30, 2004 |
84.5% |
20.5% |
28.7% |
98.6% |
#41 |
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| Sep 30, 2004 |
1.5% |
31.8% |
19.6% |
65.2% |
#40 |
93.1% |
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| Dec 31, 2004 |
34.0% |
72.3% |
50.9% |
36.4% |
#23 |
90.5% |
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| Mar 31, 2005 |
93.7% |
98.0% |
98.0% |
81.3% |
#25 |
94.7% |
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| Jun 30, 2005 |
94.6% |
#75 |
#44 |
98.2% |
#46 |
#11 |
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| Sep 30, 2005 |
98.5% |
#45 |
#8 |
N/C |
N/C |
N/C |
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| Dec 31, 2005 |
20.1% |
42.9% |
#58 |
#5 |
#62 |
#4 |
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| Mar 31, 2006 |
99.3% |
#62 |
99.4% |
#3 |
#4 |
#3 |
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| Jun 30, 2006 |
0.8% |
14.1% |
99.2% |
#51 |
#6 |
#7 |
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| Sep 29, 2006 |
19.7% |
27.2% |
12.6% |
98.4% |
#4 |
#12 |
#5 |
| Dec 29, 2006 |
99.7% |
99.1% |
95.6% |
#42 |
#1 |
#6 |
#12 |
| Mar 30, 2007 |
20.0% |
3.2% |
80.3% |
34.0% |
#4 |
#16 |
#9 |
| Jun 29, 2007 |
58.6% |
62.1% |
12.9% |
70.2% |
#49 |
#9 |
#2 |
| Sep 28, 2007 |
33.7% |
11.4% |
22.7% |
46.7% |
92.3% |
#16 |
#5 |
| Dec 31, 2007 |
62.0% |
4.4% |
4.6% |
3.8% |
67.5% |
98.5% |
#4 |
| Mar 31, 2008 |
98.3% |
90.2% |
19.1% |
12.8% |
14.7% |
97.4% |
#8 |
| Jun 30, 2008 |
82.4% |
96.7% |
97.0% |
61.9% |
66.5% |
97.7% |
#31 |
| Sep 30, 2008 |
4.6% |
6.5% |
27.3% |
17.5% |
17.6% |
61.8% |
98.1% |
| Dec 31, 2008 |
98.2% |
8.6% |
4.7% |
21.0% |
4.6% |
28.4% |
93.5% |
| Mar 31, 2009 |
30.3% |
72.3% |
17.1% |
16.4% |
8.3% |
7.5% |
94.9% |
| Jun 30, 2009 |
17.9% |
98.3% |
98.3% |
20.7% |
26.5% |
31.5% |
#68 |
| Sep 30, 2009 |
99.4% |
98.4% |
99.1% |
97.9% |
86.0% |
76.0% |
#15 |
| Dec 31, 2009 |
98.2% |
56.4% |
98.0% |
99.2% |
98.1% |
54.2% |
#18 |
| Mar 31, 2010 |
69.5% |
92.4% |
90.1% |
99.3% |
97.7% |
80.5% |
#22 |
| Jun 30, 2010 |
2.5% |
5.5% |
28.7% |
92.9% |
48.2% |
57.6% |
98.3% |
| Sep 30, 2010 |
65.9% |
96.3% |
51.2% |
81.4% |
97.6% |
90.5% |
95.5% |
| Dec 31, 2010 |
94.8% |
#71 |
#63 |
99.1% |
#47 |
#57 |
98.8% |
| Mar 31, 2011 |
89.5% |
92.0% |
#75 |
98.8% |
#27 |
#58 |
95.1% |
| Jun 30, 2011 |
23.0% |
66.7% |
92.6% |
#34 |
#38 |
98.1% |
98.1% |
| Sep 30, 2011 |
8.3% |
1.8% |
5.5% |
79.9% |
87.7% |
98.6% |
89.2% |
| Dec 31, 2011 |
72.5% |
79.8% |
4.3% |
17.4% |
91.8% |
#41 |
82.4% |
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N/C = "Not Compliant",
and means Crossy's Industry Analysis Fund wasn't compliant for that period.
A
blue star means Crossy's Industry Analysis Fund was in
the top 100 funds for that period.
A
green star means Crossy's Industry Analysis Fund was in
the top 25%.
The numbers above are the percentage of compliant funds that Crossy's Industry Analysis Fund
beat in the given time period, unless it was in the top 100 for that
period, in which case the number displays your rank. |
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alpha/beta vs. S&P500
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| For an explanation of alpha and beta, see the entry for "beta" in our glossary. |
| Alpha |
12.79% |
| Beta |
1.43 |
| R-Squared |
0.50 |
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turnover
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| Last Month |
2.20% |
| Last 3 Months |
10.44% |
| Last 6 Months |
16.49% |
| Last 12 Months |
61.82% |
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manager profile
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| ABOUT
crossy |
| Age:
|
41 |
Occupation:
|
IT consultant, student (biz) |
| Other
Interests : |
economy, politics, technology, cycling |
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[ for more information about crossy ] |
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about this fund profile |
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The fund profiled is managed by
crossy. It is a virtual fund on Marketocracy's website www.marketocracy.com that began with $1 million in cash and a Net Asset Value (NAV) of $10 per share.
Marketocracy is the only financial website where you can simulate running your own mutual fund and accurately compare your investing skill to professionally managed mutual funds and other investors. At Marketocracy, you can manage a $1 million virtual portfolio and make trades in an environment that mirrors the trading activity of the real stock market. Our portfolio management tools help you discover your investing strengths and weaknesses and help you become a better investor. You can try different investment strategies and styles to see what works best for you in a virtual environment first, before you invest your real money. It's a great place to learn, and a great place to prove your talent.
If your track record turns out to be one of the best, you will receive special privileges on our website and the best of the best get paid. If you're serious about investing or want to become a better investor, you'll want to signup for a free basic membership and start running your own fund. |
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[ To signup for your own virtual fund click here ]
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Who is Marketocracy?
Marketocracy Data Services is a research company whose mission is to find the best investors in the world and then track, analyze, and evaluate their trading activity. The company's affiliate, Marketocracy Capital Management, is the investment advisor for the Marketocracy family of mutual funds and uses the research generated by Marketocracy Data Services.
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