TTI’s Personal US Fund + TT Holdings Fund Results YTD

I’d just let the figures do the talking.

There’s too much stuff to track now, and it’s getting messy and arduous. In the longer term though, as I shift my personal funds into the holdings’ fund, it’d simplify things a bit more. Gotta eat my own cooking.

In the meantime, here goes:

(I’m excluding my SG portfolio in this post, nothing much has changed since the last update, except for the paring down of some stakes and some cosmetic additions and divestments, all in the same usual names.)

My personal US fund did pretty well in recent times, as I was positioned to profit from the volatility with some volatility derivatives. Also, I set up some short positions just before the recent bout of redness.

I’ve previously gripped about how an otherwise excellent performance…. is really mediocre cos I’ve failed to beat a passive S&P index ETF:

“Treh-Bu-Quah!!!”

Well, the tide has changed, it seems:

<Drum roll please!>

806) TTI personal fund.jpg

My personal US fund did a credible 6.03% YTD thus far.

Well, I just say its US, but it really is more global in nature, seeing that I’d on occasion, take up stakes in HK, Jap and Chinese companies too:

11% Returns In A Single Day. Thank You Blue Orca Capital!

Divestment Of Shinsho Corporation & Kobe Steel – TTI’s Post-Mortem

Year on year, it’s even more impressive:

807) TTI personal fund yoy.jpg

14.29% MWR yoy makes me a happy man.

But, not quite when I’m losing out to a passive index, as I’ve stated many a times previously.

Well well well, what a difference a couple of months (since this post: “Treh-Bu-Quah!!!”) makes…

Cos with the recent bout of volatility and the S&P getting decimated in the past 2 weeks, suddenly, SPY ETF ain’t so tough anymore huh.

808) SPY returns.jpg

Someone who bought SPY at the start of the year at US$268.77, would’ve collected US$3.67 in dividends YTD.

So inclusive of the dividends, the ROI would be bumped up to 4.15%.

I think this is the 1st time in 2018 when I’m finally beating the SPY ETF, all thanks to the sharp plunge in recent weeks. Sheesh.

Plus I enjoy a nice tailwind as these numbers are all in USD, but the USD has strengthened considerably against the SGD this year, so the gain’s contribution to overall portfolio NAV has been magnified. (I tabulate global portfolio with USD as the base currency for comparison purposes, but overall portfolio NAV is recorded in SGD)

But let’s see how things look like at the end of the year…


The 2nd part of this post is to update the new activities and results of TT Fund, a continuation of the last post: ThumbTack Fund. #$TR!J%@F()*&(*%#!!

And this…. hasn’t been good.

As I’ve said in the last post, my timing here couldn’t be worse. Literally setting up positions the day before the carnage started. Damn. If only my shareholders have been more tardy in paying up for their stake.

It’s only been 3 weeks but….

808) TT Fund.jpg

LOL! That’s right. No error there.

There’s no typo here. Numbers are automatically calculated by Interactive Brokers so no fudging the numbers.

-146.63%?!?!

I better type that out in numbers in case you guys miss the “-“

That’s a NEGATIVE 146.63%!

How does one lose… more than 100%?

LOL, and THIS is an illustration of the perils of using MWR for the short term. Cos it extrapolates the negativity and annualizes it. Ouch.

Now… if I switch to a TWR…. suddenly it looks much more acceptable:

809) TT Fund TWR.jpg

OK, I never thought I’d say a -11.06% is “acceptable”…. but it’s what it is.

It’s still early days, I was unlucky in timing, but it’d sort itself out in the longer term. The gains will stack up with time, so I’m not too worried. The quantum itself is small anyway. Luckily I’ve only deployed about 25% of the TT Fund’s funds.

Plus, in the past week, there are signs of a turnaround as I quickly corrected some of my positions:

810) TT Fund TWR.jpg

I won’t really talk about the massive difference in TWR and MWR here, as it’s been discussed to the death.

Most recently, a reader (Matthew Seah) wrote a comment illustrating the difference, so you guys can go read it if you’re interested. It’s in the comments section on the bar to the right. (https://thumbtackinvestor.wordpress.com/2018/10/04/birth-of-a-new-thumbtack-fund-gfh-fund/#comments)

Little did I know then, that TT Fund would be a fine example itself.

Perhaps it’s not very wise for me to be showing TT Fund’s terrible performance in contrast to my personal US Fund’s. Shareholders may get pissed with me. LOL! I swear TT Fund takes up more of my attention than my personal one!

Anyway, here are the activities of TT Fund in the past 2 weeks:

810) TT Fund.jpg

811) TT Fund.jpg

Yesterday was the 1st day that 2 options got assigned, and another 2 expired. Suddenly, it gets more fun from here every week.

Again, godspeed (to TT Fund).

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