For the quarter I had a 30% return. I achieved that without fully deploying all the capital under my control. To compensate for holding a lot of cash, I was managing the fund very actively, and my turnover was rather high. If we are dealing with a market that behaves like a manic depressive, with herds all herding one way one day, and another way another day, without any fundamentals we can really trust, then we get a lot of volatilty and to counter that, one may need to stay active, or rather hyper active.
A few notable good hits were shorts on AEM, ESI, and APOL, which I have discussed here a number of times. Another big winner for me was SDS which I traded very actively, and, at times, massively.
One not very bright idea has been a small short on GOOG
During the recent pullback, I started some pilot positions on the long side. My thinking is that there is still more upside with this rally. I may be wrong, and I will not hesitate to admit mistake and head back for cash.
The fund is still mainly in cash.
Kaching does not yet have a way of generating trading reports per security, but I am told that they have that on their development plan.
I have been very impressed by Kaching’s commitment to improve their platform, and by the responsiveness of their staff to issues and questions.
I highly recommend it. Give it a try, you may like it.
This is a link to my portfolio
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