CURRENT POSITIONS UPDATE
Thus far into 2011, our portfolio has been flat. I'm not necessarily disappointed, as our two largest holdings were both up in excess of 300% in 2010. I expected there to be some selling during the first quarter of the year, until these names resume their uptrend, which I expect they will in a big way.
Our newest holding, the consumer subprime play, has done well since we initiated the position towards the end of 2010. It's up about 20% since initiation and we have been adding as it has been moving up. The upside here is about 300%, and there is a large margin of safety, as this name is tremendously undervalued still.
Our biotech reorg play has been pancake flat since initiation during the 4th quarter of 2010. We are keeping the position small. It is our belief that this will be a play that suddenly gaps up overnight. It won't be a gradual move up at all, like our oil/gas play or tech play. We'll remain patient with this small position for the time being.
Looking forward to seeing our portfolio continue its bullish ways in 2011.
You can view the current positions page here
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