Saturday, March 01, 2014

February Performance

Well February has come to a close rather quickly and once again it’s performance review time. February was a very quiet month for me as the only trade I executed was exiting the short Puts in RDA Microelectronics (Ticker: RDA). Right now, I have no open arb / special situation plays although I am looking to possibly get back into RDA Microelectronics. The portfolio performed well in February after a negative January. I generated a net return of 6.50% in February... ok I cheated a little bit. I participated in the employee stock purchase program and the lump sum purchase took place in January. I was able to purchase the company stock at a ~ 27% discount. Don’t ask… it’s a weird employee stock purchase program. If I ex out the gain from the employee stock purchase, my net return for February would be 5.36%.

What worked? Constellation Brands (Ticker: STZ), Biogen Idec (Ticker: BIIB), VISA (Ticker: V) and Vertex Pharmaceuticals (Ticker: VRTX) contributed positively for the month of February. There was really no negatives… maybe Apple, but overall I’m pleased with the February results.

Performance Year to Date = +5.83% with the running monthly returns as follows:

January -0.67%
February +6.50%


At March 06, 2014, Anonymous Anonymous said...

What do you think of SWY? looks like a deal will be done either way?

At March 06, 2014, Blogger Money Turtle said...

I've been looking into SWY as well. Looks like downside is $40 and upside ??? I like the risk reward. I'm looking for the best way to play this via options.

At March 21, 2014, Anonymous Anonymous said...

What is your outlook for RDA now? The price has come down to $17.70, leaving potential for 80 cents gain.
Is it just regulatory approval that we are waiting for? How long do you think it will take for the deal to close? Is there a significant risk, that the deal will fall through?

At March 21, 2014, Blogger Money Turtle said...

I currently have no position in RDA. Still waiting for NDRC approval, which can take awhile. Looks like Tsinghua will have to wait until the "road pass" that was granted to Pudong expires before Tsinghua can apply. Probably looking at late Q3 / Q4 closing.

Here's a good article:

At March 26, 2014, Anonymous Anonymous said...

What do you think about biotech sell off.. I am thinking about starting some small position in IBB

At March 26, 2014, Blogger Money Turtle said...

Lots of technical damage with the recent biotech sell off, but I would start nibbling at some of the high quality names such as Biogen, Gilead, Regeneron, etc.. The IBB should be fine.


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