March 10, 2010 9:19 AM ET
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Market-Neutral Growth (Opportunistic)
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Growth in Special Situations (Special Situations)
Robert Freedland
Strategy Buy and hold value
Category Value
Average trade replication time 2 minutes
3,517 Views
4 Subscribers
Fees 1.50% of invested assets p.a. Subscription Min $5,000.00*
Using secondary research takes a value based approach to primarily large cap equities and ADRs. Looks for solid companies and earnings where he does not perceive the full value to have been factored in. A popular stock blogger, and successful optical surgeon he has been investing his own funds for most of his life. Conservative medium term model looking for hidden value in leading equities.
Screens broad US market and ADRs where information available for quality value stocks with a conservative bent. Looking for strong balance sheet, consistent growth record and those companies that are classic long term buy and hold candidates.
Screens on fundamentals and primarily uses significant secondary research, analyst reports, market research and news, to validate core quality group and gain picture of future cash flows.
Portfolio ranges between 5 – 20 positions. His reallocation to cash or re-investment depends on the sell signals from his own portfolio. If he is selling on a fall, then a lower reallocation occurs. If he is selling to take profits a higher re-allocation occurs. Consequently the cash to equity ratio is being dynamically managed by the performance of the chosen basket.
Will sell all of his position in a stock on a significant price drop and will take profits in 15% increments on price appreciation over stages in order to lock in gains and moderately enjoy momentum rises.
Because of his healthcare background he occasionally buys medical and healthcare stocks he personally believes in.
Investment Report
The market appears to be experiencing new volatility as January comes to an end. The Chinese are making noise about Google and Google is discussing exiting that franchise. Also, China appears to be on the verge of tightening interest rates and this move along with housing starts and sales that aren't as vigorous as expected, job numbers that are showing new slack, and loan defaults that won't go...
February 2010
Personal Background
- Has been investing over 40 years and well read on and around styles of investing
- Optical surgeon and applies some of his personal experience to healthcare investments.
Experience on Covestor.com‡
Robert Freedland's Covestor.com Profile
- Overperformed S&P 500 for 17 of their 33 months on Covestor.com#
- Return Since Inception: -18.04% (June 2007)
- Last 3 Months Return: 2.84% (S&P 500 0.81%)
- Annualized Return: -6.99%
- Sharpe Ratio: -0.23 (S&P 500 -0.09)
- Maximum Drawdown: -55.74% (S&P 500 -56.78%)
Performance
| Inception April 14, 2009 | Model Manager | S&P 500 |
|---|---|---|
| Return Since Inception (%) | 22.81 | 35.53 |
| Annualized Return (%) | 25.60 | 40.11 |
| Month to Date Return (%) | 0.81 | 3.26 |
| Calendar 3 Month Return (%) | 1.47 | (0.39) |
| Sharpe Ratio | 2.44 | 2.09 |
Monthly Performance (%)
| Month | Return | S&P500 | Outperformance | Risk | Performance |
|---|---|---|---|---|---|
| Feb | 2.87 | 2.85 | 0.02 |
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| Jan | (1.15) | (3.70) | 2.55 |
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| Dec | 0.60 | 1.78 | (1.17) |
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| Nov | 3.58 | 5.74 | (2.16) |
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| Oct | 1.38 | (1.98) | 3.36 |
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| Sep | 3.11 | 3.57 | (0.46) |
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| Aug | (0.10) | 3.36 | (3.45) |
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| Jul | 4.23 | 7.41 | (3.18) |
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| Jun | 2.85 | 0.02 | 2.83 |
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| May | 1.83 | 5.31 | (3.48) |
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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 (%) |
|---|---|---|---|
| Cash | n/a | n/a | 14.35 |
| CHD | CHURCH & DWIGHT INC COM | NYSE | 14.13 |
| SYY | SYSCO CORP COM | NYSE | 13.75 |
| MCD | MCDONALDS CORP COM | NYSE | 13.65 |
| JNJ | JOHNSON & JOHNSON COM | NYSE | 12.03 |
Total Holdings 9
Data displayed is as of market close: March 09, 2010
Recent Transactions
| Symbol | Security | Type | Price |
|---|---|---|---|
| JNJ | JOHNSON & JOHNSON COM | Buy | $64.93 |
| MMM | 3M Company | Sell | $82.82 |
| CHD | Church & Dwight Company, Inc. | Buy | $55.63 |
| KO | Coca-Cola Company (The) | Sell | $53.46 |
| MCD | McDonald's Corporation | Buy | $56.01 |
Data displayed is as of market close: March 09, 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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