March 12, 2010 11:31 AM ET
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John Rodgers
Strategy Resources & Commodities
Category Sector Focus
Average trade replication time 2 minutes
1,636 Views
3 Subscribers
Fees 1.50% of invested assets p.a. Subscription Min $5,000.00*
He invests solely in commodity and resource companies using a macroeconomic approach to determine which resources/commodities followed by a heavy fundamental and DCF analysis. He is a CPA and tax executive in the commodity and resource sector.
Investing solely in resource and commodity companies, he first takes a macroeconomic approach in order to decide which resources or commodities are poised for gains, and which will likely decrease in value. Once determined, he utilizes a fundamental approach in order to select specific companies. This fundamental analysis relies on a discounted cash flow analysis, as well as an in depth review of... [more +]
In order to conduct his macroeconomic analysis, he looks to economic indicators, such as: Federal Reserve policy, treasury prices, global GDP figures, commodity price/ inventory levels and the price of currencies. Additionally, he reads Barrons, The Wall Street Journal and Bloomberg.
Regarding his fundamental analysis, he reads SEC filings, including annual and quarterly reports, as well as... [more +]
He allocates the portfolio based on commodity groupings and does not necessarily maintain equality among the groupings. He will usually diversify across a few companies in order to play a commodity or resource.
While he does not use hard and fast rules to determine selling points, he sells when he believes the company has reached its intrinsic value, or when macroeconomic factors change; thereby reducing the appeal of a particular commodity group.
He may use commodity ETFs in order to participate in the commodity futures markets.
Investment Report
Despite the fact that the S&P 500 traded in a narrow range during the month of February, we managed to produce some decent unrealized gains within the portfolio which helped to offset January’s dismal performance. Year to date, we are beating the averages and believe that 2010 will be the year of the stock picker. It will be very important to select good companies with positive fundamentals since...
March 2010
Personal Background
- B.A, Business Administration, Bethany College, Bethany, WV
- Born and raised in West Virginia, lived and worked in Pittsburgh, Pennsylvania for 10 years, California resident since 2007
- Worked as a Tax Executive at several resource and commodity companies
- 15+ years investing experience
- Enjoys watching STEELERS and WVU football games, fly- fishing, hiking, playing chess competitively and is...
Experience on Covestor.com‡
John Rodgers's Covestor.com Profile
- Overperformed S&P 500 for 7 of their 12 months on Covestor.com#
- Return Since Inception: 130.99% (March 2009)
- Last 3 Months Return: 9.97% (S&P 500 0.81%)
- Annualized Return: 141.85%
- Sharpe Ratio: 3.64 (S&P 500 -0.08)
- Maximum Drawdown: -20.93% (S&P 500 -56.78%)
Performance
| Inception November 20, 2009 | Model Manager | S&P 500 |
|---|---|---|
| Return Since Inception (%) | 8.89 | 5.39 |
| Month to Date Return (%) | 4.93 | 4.14 |
| Calendar 3 Month Return (%) | 3.35 | (0.39) |
| Sharpe Ratio | 1.16 | 1.29 |
Monthly Performance (%)
| Month | Return | S&P500 | Outperformance | Risk | Performance |
|---|---|---|---|---|---|
| Feb | 9.16 | 2.85 | 6.30 |
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| Jan | (8.09) | (3.70) | (4.39) |
|
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| Dec | 5.34 | 1.78 | 3.56 |
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The performance of the model manager's account has been calculated by CVIM on a daily time-weighted basis including cash and broker commissions. These returns do not reflect any CVIM suitability or risk score restrictions and are exclusive of CVIM fees. Therefore, they do not represent the performance of the CVIM model available for subscription. Benchmark returns have been calculated by CVIM using a time-weighted calculation of daily valuations and do not include cash or transaction costs. Please see the additional disclosures below.
Top Holdings
| Symbol | Security | Exchange | Allocation (%) |
|---|---|---|---|
| CZZ | COSAN LTD-CL A SHRS | NYSE | 25.36 |
| XOM | EXXON MOBIL CORP | NYSE | 9.36 |
| BG | BUNGE LTD COM | NYSE | 7.92 |
| CDE | COEUR D'ALENE MINES CORP | NYSE | 7.82 |
| TCK | TECK RESOURCES LTD | NYSE | 5.59 |
Total Holdings 19
Data displayed is as of market close: March 11, 2010
Recent Transactions
| Symbol | Security | Type | Price |
|---|---|---|---|
| ICO | INTERNATIONAL COAL GROUP INC | Buy | $4.25 |
| PLM | Polymet Mining Corp. | Buy | $2.00 |
| PCX | PATRIOT COAL CORP | Sell | $20.00 |
| UNG | US NATURAL GAS FUND LP | Sell | $8.48 |
| UNG | US NATURAL GAS FUND LP | Buy | $8.50 |
Data displayed is as of market close: March 11, 2010
* The Subscription Minimum is the minimum subscription required to follow a particular model. The minimum amount is determined by CVIM, based on the characteristics of the underlying model. It should not be considered as specific investment advice for your investment situation.
‡ Covestor.com performance data has been calculated by Covestor on a daily time-weighted basis of the equity positions of the account and is exclusive of any commissions and cash in the portfolio. The member's performance on Covestor.com, based on a separate account, may not reflect the strategy employed to manage the model available for subscription on CVIM. Please see additional disclosures below.
# Since the model manager's inception in Covestor.com
It should not be assumed that any information discussed herein will prove to be profitable or that decisions in the future will be profitable or provide similar results. The information set forth herein is not a substitution for personalized investment advice, and should not be construed as a recommendation to purchase or sell a particular security or to subscribe to a particular model.
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