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Marketocracy Portfolio Update
A few weeks back, I received a request to post the stock selections I use in my 3 Marketocracy funds. Today I updated my funds, and I like to share with the board the changes I made to the 2020 portfolio, the most aggressive of the 3 funds, as well as some background information.
Here's the description of the 2020 fund from its public Marketocracy page. Link to public page: <http://www.tinyurl.com/9b35z> **Individual stock selection is based upon statistical analysis of three factor groups: growth, valuation and momentum. Multiple components comprise each group. At the fund's inception, the top 20 ranked stocks from a universe of approximately 2,000 stocks were purchased. Twenty stocks always comprise the non-cash portion of the fund, and each stock constitutes approximately 4.95% of total fund value at the time of its purchase. A stock in the fund is held for as long as it remains in the top 20 ranked stocks from a universe of approximately 2,000 stocks. A stock that falls from the top 20 group is sold and replaced with the highest ranked stock from the current top 20 group that is not already represented in the fund.** <font class="small">Code:</font><hr /><pre> Here's the performance history of the selection process used for the 2020 fund. 1986: 35.4% 1987: 1.4% 1988: 29.6% 1989: 44.8% 1990: 9.3% 1991: 110.8% 1992: 18.9% 1993: 20.7% 1994: 3.5% 1995: 62.4% 1996: 50.9% 1997: 25.5% 1998: 52.7% 1999: 45.2% 2000: 40.8% 2001: 18.0% 2002: -8.1% 2003: 50.7% 2004: 31.4% 2005: 39.2% -- YTD 11/04 Listed below is the current 2020 fund, after today's changes, and the individual buy/hold/sell decisions. TICKER ACTION AAPL buy AET buy BER buy CAE buy ESI buy GS buy HAR buy JWN buy SNDK buy STT buy UFPI buy WSO buy XTO buy BMHC hold BVF hold CRDN hold ESRX hold FTO hold LEH hold VLO hold BJS sell BR sell CKP sell CMX sell COG sell DVN sell ECA sell EXP sell ITG sell LMS sell PCP sell TTI sell VPI sell Here's a quick diversification review, based upon Marketocracy's categorizations and current data. NOTE: The 2020 public page will not reflect the *current* information until Tuesday, 11/08. Current/previous positions weights by sector/industries (%): 20.6 / 0 Capital Goods 20.3 / 11 Financials 20.1 / 5 Consumer Discretionary 15.4 / 17 Health Care 13.6 / 43 Energy 10.1 / 5 Information Technology Current/previous position weights by style (%): 25.2 / 24 Large Capitalization 40.3 / 25 Medium 24.5 / 40 Small 10.0 / 10 Micro 54.8 / 44 Value 19.9 / 29 Blend 25.3 / 26 Growth </pre><hr /> The above information should be enough to generate some discussion. I really don't know if there will be sufficient interest on this board to warrant timely updates going forward. I guess we'll see. Comments? Questions? |
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