TTI’s Portfolio Results – FY17Q2

Before we know it, it’s the halfway mark of FY17 and it’s time for the customary crunching of numbers to see where TTI stands, relative to the general market.

To summarize: Not too good.

STI ETF’s figures are kinda crazy this year, and although in recent weeks STI is showing some weakness, on an annualized basis it is still on a tear.

558) STI ETF FY17Q2.jpg

Clocking in with an XIRR of 28.58% at the halfway mark, STI ETF continues it’s impressive run in 2017.

By contrast, TTI’s XIRR for 2017 stands at 12.81% as of 2017Q2.

Total portfolio size has increased rather rapidly though, from $943,815.80 as of the start of the year, to $1,201,907.53.  

559) TTI Portfolio size FY17Q2.jpg

Of this increase of $258,091.73 since 6 months ago, $194,600.89 is accounted for by capital infusion, while $63,490.84 comes from capital gains.

Seeing little to no attractive opportunities in the property market currently, I’m diverting funds back to the equities/options route. I’ve been in the property market for almost a year now, but looking at the numbers thrown around, I’m finding it hard to reconcile them with the supposed poor general market sentiment.

Where are the freaking deals?!

IMHO, I think the drop in the market indices is just a reflection of lower volumes done on lower prices. Sellers are still holding out because the world economy is still flush with cash. There are few desperate sellers and by extension, few bargains. Even the mortgagee auctions are not exactly cheap.

Probably the only segment where there are “bargains” are in the ultra luxury sector, something that I’m obviously not looking at. In any case, it’s hard to tell if they’re truly bargains or just prices coming down to a more reasonable range compared to the previous heady days.

Anyhow, I’m not in a rush.

I’m a patient guy.

I’m also in the midst of changing some positions within my portfolio. With a concentrated portfolio, comes larger position sizes. So changing allocations within the portfolio takes time, kinda like how a large ship takes time to change courses.

Obviously with some stellar results coming from my options activities, I’d be looking to reallocate resources to that path. Having said that, of late, even my options activities ran into some minor hiccups.

In short, Valeant rose very very rapidly recently (like almost 100% within less than a month!), and I was caught out, having sold some call options just before the rapid rise. It’s an amateur mistake, as I knew beforehand this was coming. So why did I still sell call options on my positions?

GREED.

Yup, it really is just that. GREED. Amazing how I know I’ve to control that emotion, and STILL make that mistake.

Couldn’t wait, and was expecting any further rallies to be after Q2 results. And even then, I didn’t have to sell that many call options.

Fortunately, as I understand VRX rather intimately, I could predict the strength of the rally and took remedy steps almost immediately. Still, this is likely to impact on my cashflows from options in the next month. Unlikely to be anywhere as stellar as the 2 earlier months:

BBR Holdings FY17Q1, Geo Energy Resources FY17Q1, Results From Options Strategy (1 month)

Geo Vs GEAR! + Options Update

Also, I’m currently working on a completely new position that’s arising from an arbitrage situation, but will only write about it much later when I’ve the time.

That’s all I have for this post, as always, happy hunting!

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