MECHCalvin Fund Nov, 2013 Fund Report - Risk, I mean Christmas is all around us!

Dear Investors,

latest fund price: HK$1.2611 (+0.0069, 0.55%)
Market Value: ~HK$1,267,009.45

Christmas is upon us, we have reached the 1 million subscription milestone this month, remember i said i wouldn't do anything more until the end of year? with the new 120k capital rush in, i think the story have been changed, the next milestone will be 100% return, haha

there are a lot of causal investors throw in $100, $10, even $1 into this fund, from time to time i have been asked in various random occasion:

"hey Calvin, how's my $100 buck doing?"
"Cal, don't lose my precious $1 yet?"
"hey Calvin, how much dividend i will have with my $10 investment?",

as hilarious as they sounds, i always picture how cool it will be when i can finally hand two 1 dollar coins back to those who only gave me 1, it's like magic!

i have been spoken numerous time how easy it sounds to turn $1 become $2, but how difficult it is in real life, the beauty of my fund is a demonstration of my philosophy, no matter how insignificant something is, when they accumulate, the inflence just cannot be ignored.

if i invest alone, surely i will be rich much faster, i am taking an online trading course from a Jewish guy named Tim Sykes, In 1999, while still in high school, he took $12,415 he had received in bar mitzvah gift money and began day trading. He would turn this initial investment into over $1.65 million before the age of 21.

See how insanely fast you can you work your way up alone after understanding the stock market, however ultimately that's not what i want, i prefer the saying from one of my favorite footballers, Kaka:

"If you want to go fast, go alone; If you want to go far, go together"

Anyway, I bought 8 more stocks and increase my holding to 18 companies in total. some are doing exceptional well, one particular stock have reached 92% growth in 2 weeks!

next month will be the end of Dec, 2013, and i will release the annual report, which will show all the mistakes i have made due to my stupidity and inexperience, if i haven't made them, the return would be so much higher, but let's do my confession next month.

you will see significant change in this fund in the next 6-12 months.

Regards,
Calvin

the following is for few (including my mom) who have trouble reading English report.

尊敬的投資者，

最新的基金價格： HK$1.2611（+0.0069 ， 0.55 ％ ）
市值：約HK $ 1,267,009.45

快到聖誕節，我們已經在本月達到了100萬港元認購額的里程碑，還記得我說過今年不會再做任何事情多？但因為有了120K的新資金，我覺得故事已經改變，下一個里程碑將是100 ％的回報，哈哈

有很多投資者在這個基金扔下了100元， 10元，甚至1元，所以不時有人在不同場合問我：

“哎Calvin，我的100元投資現在怎樣？”
“哎 Calvin，不要輸掉我的寶貝1元啊？ ”
“哎Calvin，我的10元投資會有多少分紅？ ”

因為它們聽起來是那麼好笑，我總是想像, 有天當我終於可以將兩個1元硬幣, 送回到那些只給了我一個1元的人手上 ，將會是如何的酷，就像魔法一樣！

我已經說過很多次, 把1元變成2元聽起來是多麼容易，但它是在現實生活中卻又是多麼困難，本基金漂亮的地方, 其實是我的哲學示範: 「不管一樣東西多麼微不足道，當他們累積起來的時候, 其影響力是絕對不容忽視的。」

如果我獨自一人投資，我致富肯定會快得多，我正在網上跟隨一個叫Tim Sykes的猶太人學習交易，在1999年，雖然還在讀高中，他帶著他收到的成年禮金 (猶太的成人儀式) 共12415美元 ，並開始在股市交易。在21歲之前, 他已經把這個初始投資變成1百65萬美元。

你就可以看到當你了解股市的運作後, 一人致富是可以如此瘋狂的快，但最終，這不是我想要，以我其中一個最喜歡的足球運動員卡卡的說法：

“如果你想走得快，一個人去，但如果你想要走得遠，要一起去”

無論如何, 我又買了8隻新股票，我的控股增加到18家公司。一些做得特別地出色, 其中一只股票, 在2個星期內, 已經達到了92 ％的增長！

下個月將是十二月， 2013年年底，我將發布年度報告，該報告將顯示所有我由於愚蠢和缺乏經驗的錯誤，如果我沒有犯下這些錯誤, 那本基金的表現將會更好，但讓我下個月才懺悔。

你將會看到本基金在未來6-12個月有顯著變化。

最好的問候，

Calvin

MECHCalvin Fund Oct, 2013 Fund Report - Not-So-Pro!

 Dear investors,

latest fund price: $1.2542 (+0.0292, 2.83%)

Well yeah, things have been back, my investments usually have some sort of delay and insensitive to the market, just like myself.

In fact, detach from the market is my ultimate goal, if market is represent the mass media, then sensitive to it will make you mainstream, but also make you mediocre, Benjamin Graham once said: having opposite opinion with the masses do not make you right or wrong, you are only right when your data and logics are correct.

i would add: most of the time, the masses are usually wrong, otherwise 90% of the people would have been rich already, wouldn't it?

my dad almost got annoy when i present carelessly on facebook page or anywhere openly, he said my "image" is very important to make how people feel trust in me (funny my boss also say that a lot), i always respond: hey, this is not like i have to "prove" myself to the general public, try my best to impress anyone so they "trust" me, and i don't like to sell my fund actively, this kind of mentality is pretty much in my blood, i have no fashion sense, little social skill or don't usually bother with my hair, i am only serious in what i do - work,

i have seen too many "professional" look analyist and fund managrers, fail big still get paid large amount of sum, while those investment masters like Warran Buffett and Peter Lynch go eat burgers and dress up cheap, i don't like "professional image", so i decide my style will be called "Not-So-Pro", hahaha.

maybe i should change, but definitely not now.

anyway, this report not really about my fund, just few grumbling since basically i don't think i will move anything in the next 2 months but wait for the investments to grow. most people feel they need to do a lot of thing to get a great return, but i am telling you, activities have nothing to do in investment, in fact inactive will give you better advantage, people just want to do too much.

Warran Buffett only make 1 deal in a year, and there were 4 years he did nothing because he said he can't find anything interesting on the market, and he become 2nd richest man in the world, can you believe that? i guess after hearing that, 99% of the Hong Kong people who believe in working hard will want to beat him to death . my average trade is about 25-50 trades in one year, and my target is to reduce it to less than 10 in the next couple years.

So there you go, I am learning to "Do Nothing" and "Not-So-Pro"! :)

wanted to write some stories to make this report less boring, but i think it is already long enough.

So have a nice weekend and don't forgot you can subscribe more by the end of this year, there is 120k quota left :)

regards,

Calvin

*little note: in case you didn't get the jokes and really believe i don't need to do anything, investors needs to work hard, but the work is mainly thinking and finding data, not spend time on the market.

MECHCalvin Fund Sept, 2013 Fund Report - Patient is a Virtue

Dear Investors,

the latest fund price: $1.2250 (-0.0007, -0.057%).

the market have gone totally upward in a single month by more than 5%, because of the war on Syria didn't happen, also the Fed surprise the market they will continue QE for longer time. but my fund still dropped slightly, mainly because the stocks i pick are very defensive, and have very slow respond, but they will catch up slowly, also because the subscription increase.

in Aug, the total subscription is $833,685.05, market value $1,021,835.45, which give me 22.57% growth thus fund price is $1.2257 a unit.

in Sept, the total subscription have increased to $883,685.05, which market value have also increased to $1,082,514.98, yet only give me 22.5%, thus fund price become $1.225 a unit.

Although my fund is extremely small, actually tiny, a small size fund should be around at least $5-10 million USD, still you can see i am facing the problem every fund manager is facing, the growth rate must overrun the subscription speed in order to achieve captial gain, otherwise value per unit will be diluted even the fund is actually making more money.

Anyway, less complain and more on the update, i have brought couple more new local stocks, that many mainstream fund managers might be too afraid to choose, mainly because they are small size, mainstream fund managers like to pick those mega huge internationl incoperation, because they are safe, if HSBC fail, people will say: what's wrong with HSBC? but if a small company fail, people will say: what's wrong with the fund managers?

but i rather take the chance, the new stocks i picked are well known to local HK-ese, e.g. 759 stores 阿信屋, japan home 日本城, tsuiwah 翠華, they are all expending, 759 store is planning to open up to 180 stores by the end of this year, japan home plan to open 100 more new stores in Asia within the next 3 years, and the boss of tsuiwah got caught taking business trip on economic class by a reporter, good sign because you know the luxery of a company management usually is inversely proportional to the return of the shareholders, so one day if you see me driving a Ferrari, it might be time you consider to leave this fund, haha.

Anyway, don't want to write too much, as you can see this fund is becoming more mature, and i have set a great course of the direction in long run, so i can spend less time on this fund and more time on other business, e.g. insurance, baby shop, chinese tea, etcetc.

This fund will grow, but it will also take time, since over night wealth is nothing but a scam, i hope the steady growth of this fund can help some of you to achieve your dream, e.g. get marry, buy house, business startup, pay tax, even retired.

Patient is a virtue :)

regards,
Calvin

MECHCalvin Fund Report Aug, 2013 - Buy When There's Blood In The Streets

Dear Investors,

The latest fund price is: HK$1.2257 (-0.0124, -1%).
Market value: HK$1,022,915.45

the global market is quite fluctuated, USA said she is ready to quit QE, then said it might be delayed, all these affect short term, also the heating situation that US will go to war with Syrian cause both gold and oil rise, i didn't invest in oil but it surely help the gold i have brought.

there is an old wall street saying: "invest when there is blood in the streets." many people who have bias towards finance always quote this and accuse investors love wars so they can make money, which is wrong, speculators loves global events that cause major panic so they can benefit from the timing, while investors only wish his investment can grow steadily, and war surely isn't something that cause stability on the market. When i have chance, i will write something about the difference between "speculating" and "investing".

although said that, any kind of events that cause panic or fear usually is a good chance to invest, since everyone fears tomorrow might be the end of the day and throw everything they have on hand, which will cause a major downside to stocks price, this gives a true investor a good chance to recieved all the undervalued stocks from those who are too chicken and have no confident in the future. yet in normal circumstances, investors have more interest in finding companies that can grow steadily and morally right in a political stable region, and we don't need those extra "good timing".

don't want to go into details into my action this month, i have done some minor stupid things again, such as selling too fast, the stock i sold this month have gone up 6% the day after i sold it, and further 3% in the next two days, and this isn't the first time, i can talk about bad timing forever.

regards,
Calvin

MECHCalvin Fund Report July, 2013 - Buy Right and Sit Tight

Dear Investors,

this will be a very short report. the market rebounce quickly, as well as the fund, but my stocks will takes time to catch up, the latest fund price is $1.2381 (+0.0071, +0.58%)
the wall street legend Jesse Livermore once said, "who can both be right and sit tight are uncommon. I found it one of the hardest things to learn."

the "game of investment" is that, being right already isn't easy, the stock market is never obvious. It is designed to fool most of the people, most of the time, but what's harder to learn than being right is to sit tight.

from my less than 5 years experience, i have learnt how to be right very quickly, i know what will happen, sometimes when it will happen, but i didn't get more than i could have because i couldn't sit tight easily, 10% gain, then i get nervous and think, maybe i should sell and take the 10% now and leave! if i can resist my temptation, then it rise to 20%, 30%, 40%, then more it goes up, the more tempting i want to get what i can see and leave, and regert it later.

I started buying my own company Manulife (HKG:945) since Sept, 2011 with an average $83 a share, i know its reasonable price should be $120-130, but i sold it at $97.5 after last Sept, 2012, 15% gain, seems pretty good! however this month it has reached $140 already.

another lighting company NVC (HKG:2222), i brought it last Aug at $1.24, and sold it at $1.53 after a month, 25% gain, not bad! this month it has reached $2.4 at highest already.

these are few mistakes i have made by being right but not sitting tight.

but as i said, the first 5 years is pretty much like training, so don't get too serious on that, in the coming year, i will slowly reduce the % of loan, now this fund have 37% is loan to different people/ business, that's why her performance cannot compare with those fund who invest in stocks 100%.

anyway, i have attached an historical fact sheet for some of you want to keep track of the development of this fund since day one.

that's it for now, have a great weekend :)

regards,
Calvin

MECHCalvin Fund Report June, 2013 - Millionaire

 Dear Investors,

Although the market value of mechcalvin fund have reached $1M, however the market crashed earilier than i expected, the latest fund price have dropped to $1.2310 (-0.0739, -5.66%), the market have dropped -8.66% in a single month, -10% at worst, but well, i consider it is a success.

Even the best fund drop when the market drops, it is the matter if the market drop -10%, you only drop 5, when the market rise 10%, you rise 20% that make the difference. 


When i was a kid, i always thought 1 million is a lot of money, they used to call rich people millionaires, yet apparently, 1 million is not a lot anymore, we now call rich people billionaires, after 4 years, my fund have reached 1 million, 500k stocks and mutual funds here, 400k loan there, with 2 gold rings, and other random stuffs and cash, then you have a million, but i couldn't feel a thing. 

What can 1 million do these days? if $10 for 3 apples, i can buy 300,000 apples, or 10,000 pizzas, 2,000 iphones, 2 toyota or 1 BMW. You can ate an apple in 3 mins, a pizza in 30 mins, an iphone become worthless in just 2 years, a BMW will only worth half its original price after it touches the ground, or i can turn it into 2 million, not a bad idea!

this world consist of 3 types of people, spenders, savers and investors. spender focus on now, savers doesn't want to risk, only investors willing to risk for a better future. in fact investing is "delay spending", when a spender look at $1, he sees what this $1 can bring him now, when a saver see $1, he sees one more $1 in his pocket, only when an investor look at $1, he sees the possibilties of this $1 will become in the future.

regards,
Calvin

MECHCalvin Fund Report May, 2013 - Four Years of Risk Already

Fund price of this month 本月基金價格: 


$1.3049 -0.0155 (-1.17%)

Dear Investors,

4/6/2013 will be the end of my four years running this fund, and July will be the end of 5th year of joinning the insurance industry.

the latest unit fund price is $1.3049 (-0.0155, -1.17%)

the market have gone negative, so does gold and stock market, this month i have sold a few things and brought a few things, thus my fund price finally drops, yet if you have invested this fund early, you still remain 30% gain, it again prove if you buy something low enough, few % up and downs is hard to care.

i have switch my Manulife Asian Small Cap back to cash in order to lock a 56% profit, i have also sold Standard Chartered Bank shares (HKG: 2888) and lock a 19% profit, with a dividend pay of $1300.


i have used these profits brought couple undervalue properties stocks, including The Link REIT (領匯), Fortune REIT (置富置富產業信託), and holding cash, it comes to my guts feeling the market have lost direction, and people are become overconfident in the stock market, these are signs before a market crash, so i am trying to play defensive.


i cannot believe it have already been 4 years, i am thinking if i see no more good opportunity on the market in the coming year, i will sell everything to lock profit next year this time, and return the money to you guys (investors) first, and see what it will lead me to.

i always use 5 as a milestone for anything, e.g. i like to review my career every 5 years, i use 50k as a unit with come to investment, so it will be good for me to review what i have learnt in the last 5 years from investment next year.


the Heng Seng Index was 18378.73 in 4/6/2009, and reached 22392.16 in 31/5/2013 with a 21.84% growth, while my fund have growth 30%, it is better than the market, and sure beat any kind of bonds, bank deposit saving (obviously), currencies/ gold investments, yet i am not gonna lie, there are many professional funds have done so much better than me (even after management fee), at the same time there are professional funds have done much worser than me. yet to be fair, the return of my fund will be much much better if i have only focus in stocks investment only, and ignore all those loan, gold, currencies, busines, etcetc... however the experience i got from those will benefit you much more in long run.


how to deal with risk have always been the major tropic in any kind of investment, and in life too, people got a lot of misunderstand with risk, i am glad i work in the insurance company have taught me so many things about risk management, the history of insurance companies dealing with risk is like the history of men dealing with women: they don't want to live with each other, but at the same time they can't live without each other.


i would like to take this opportunity to explain what i have learnt so far, it is going to bore a lot of people, so if you don't want to read a long essay, or you don't have the time, you can stop reading now and go back to do whatever you are doing.


best regards,

Calvin

fund site: http://mechcalvinfund.blogspot.hk/


Risk - love and hate.


many people got a pretty bad experience with investment and blame investment is a scam, is because they have not realise the existing of risk, they always say they understand, but i can ensure you 90% of them don't, otherwise their life would be much easier.


The Government warned them, the financial companies warn them (although in this case it is like the casino warn gamblers don't gamble too much, it is a real life dark joke), yet i am pretty sure both the government and the financial companies do not pay too much attention to risk than any citizen (although they understand more, this make some of them much more evil than those who have no idea).


these are few common misconception of risk.


1. Risk is gone!

this kind of misconception happens when the market is doing well, it seems even someone who never invest before can earn in the market earily, the general public have this idea the risk on the market have been lowered (even dissappear), so they gain confident and everyone rush into the market, because nobody want to miss the opportunity to gain some money.


the problem of this atmosphere comes from the advestising of many investment firm, in both extreme,
in one extreme, the stock dealers want people to believe: everyone can be a good investor,
while on the other extreme, the fund managers want people to believe: no one can do better than them, so you better hand over the job of investment to the professionals,
both extremes are based on the same factor - money. The stock dealers got commission when someone trade with them, while the fund managers gain money from management fee, either way they try very hard to convince the general public you should deal with them, either you do it on your own, or they do it for you.

yet the general public always forget one thing, like energy, risk never disappear, it can only be CONVERTED or DIVERSIFIED,
an investment bank convert their risk back to the investors, this is their beliefs, either you gain or loss, it is your problem, not ours,
while an insurance company diversify their risk to many insurers, they say, it is ok for 1 people to loss when the rest can compensate for him, and i am pretty i will gain more than loss some.


if you know the risk can never dissappear, you will pay attention where the risk goes to at particular time, and make sure you don't bear more risk than you have to. saying investment is the cause of lossing is like saying disease is the cause of bad health. Risk is like bacteria, disease is the outcome of unmanaged bacteria, loss is the outcome of unmanaged risk.


2. Avoid risk it all cost!

you have people try to risk everything and hope he will get more in the end, while you also have people who is extremely afraid to risk anything in order to avoid any kind of loss,


I am not gonna lie i did have the same misconept before i run this fund, it is our human nature we don't want to lose, even a dent. Risk suggest we will, and we try our best to avoid them, which is not entirely wrong. However try to avoid risk is like try to avoid bacteria, you just can't, there are germ and virus everywhere, it is on the table, it is in the air, you can never run from risk is like you can never run from bacteria. An investor aware of risk should be like a doctor aware of bacteria.


So if we can't run from it, what should we do? there are two ways of dealing with risk.

firstly, although you can't avoid risk completely, but you can avoid major risk easily, it is like you can't avoid virus in general but you surely run away from some dangerous place, no one ask you to go into a nuclear plant, nor ask you eat food that have dropped on the floor, because you know by doing that, you are taking more risk than you normally need. So does your investment, no one ask you must pursuit a 40% annual return, or invest into something you have no idea, you can just simply don't do it.


secondly, make sure you can handle the risk you are facing.

everyday we face treat, it can be hit by a car, infected by virus, or hit by a flower pot dropped from the building above you, unless you plan to lock yourself at home 24 hours a day (even the house might collapse :P), you have to face these normal risks everyday, however you don't get too scare walk outside, because you know you can bear it, and in most case, you won't walk into dangerous place you know of.


in normal condition, our body provide mechanism to fight virus, it is not we do not get in touch with virus itself that keep us healthy, but it is our immune system can defend them. Same for investment, if you only risk a little bit of your money, you are still safe because you know you can afford this. As Warren Buffett said, "if i know a truck weight 1 tonne run across my bridge, i will make sure my bridge can withstand 3 tonnes."


when i asked you guys to join my fund, the amount the majority of you have given me is only a small portion of your wealth, you say: "what the hell if Calvin lose them all! it is not a big deal!". and some gave me a larger portion of your wealth (definitely not all) is because you have confident in me more than the rest, so in your subconscious, MECHCalvin Fund and Calvin has a lower risk than rest of the investment you know of, yet either way, any investor need to and is taking risk, a better investors are those who clearly understand they are taking lesser risk, while having a better expectation of return. However, nobody on this earth can avoid risk at all cost, you can only avoid risk you cannot handle.


3. Higher the Risk, Higher the potential return!

I gotta say this is the biggest misconcept in modern financial, and ironically this is brought to you by the mainstream investment companies. They say, "if your investment has low risk, then you should expect lower return, thus if you want more, you must risk more." I am pretty sure hell has a special place for these morons. Higher risk DOES NOT give you higher return, and in most case, it gives you higher chance of loss. if Risk = chance of losing, higher chancing of losing will give you higher chance of return? what kind of logic is that?


they will make few convincing examples, take lottery for example, the chance you will lose (risk) is high, but if you are lucky, you will have very good return, or a startup business is risky, but if you have succeed, the return is very rewarding, or the ultimate worst example, stocks is risky, but the return is very good! bond is less risky, so the return is not as good as stocks! bank saving has leaset risk, so the return is very bad! thus, risk more if you want more!


the devil talk is always convincing, and with a bit of seductive elements added into it, i can be a devil, but i prefer to be an angel majority of my time, and play the devil in a less harmful way, or just for fun! :P


you buy lottery is not taking a huge risk, unless you spent all your money to buy tickets, it is a risk you can afford even though you know you have a good chance of losing, and more importantly, it doesn't proof more risk you take, the higher return you will have.


A startup business is risky when you don't know what you are doing, most successful bosses do business they have confidents in, while most people fail because they do not understand the industry they are about to enter, as Warren Buffett said: "Risk comes from people don't know what they are doing." startup business is not particular a higher risk than getting into normal pay job, risk comes from when you don't know what you are doing.


and i will explain the last one in my 4th misconception.


4. Volatility is Risk!

when people in investment firm tell me (same for my company Manulife, it is a shame really), bank saving has lesser risk, so the return is lesser, bond is higher, and stocks has the highest, so we can conclude higher the risk, better the return! this mega-huge delusion comes from modern finance, it is packaged with a pretty name: "insurance portfolio" (same as many drugs that kill people), it works like that, if you want lesser risk, you must make your portofio less volatile.


it is human nature we feel unsafe when things are not stable, yet it is our feeling that always trick us. All these non-sense fit our nature, but usually untrue, think about it, does it mean if something volatile less really means it is safer?


now think about the Titanic, was her claimed to be the safest ship and less volatile ship ever built in mankind? i am sure if you were one of the passenagers, enjoying the dinner and company with the captain before she hits the iceberg, the floor was solid as rock! now think of the bank in Eastern Europe, are they really safer than the stocks of a good company in USA?


Volatility have no connection to risk, at all! things can be pretty safe with high volatility, while things can be pretty unsafe in stable form. all explosive are in stable form, until someone light a match, insurance, bank saving, bonds, stocks can be safe and unsafe neglect their volatility.


a company that is in financial stuggle, her bond with 3% return isn't very safe, a bank (like in 2007) provide 2% saving doesn't mean it is very safe, a stock from a well finance company can goes up and down 10% can be very safe, i think you have got the idea. so understand what's behind is more important than pay attention to its volatility.

Enough have said, if you are still reading, i appluse you, as you have growth as much as I am in the past 4 years, and for rest, i wish you all the luck, because you will need it.

MECHCalvin Fund Report April, 2013 - Freemium is the future

Fund price of this month 本月基金價格: 


$1.3204 +0.0082 (+0.625%)

Dear Investors,

This month i have spent 2 weeks in USA, to visit a friend's wedding, also get some sightseeing done, as well as opened a bank account (apparently HSBC is a very small bank in USA). I have been to San Fransisco and L.A., when i was walking toward the Fisherman's Wharf, I saw this beautiful cruise ship "Sapphire Princess" (the twin sister ship of Diamond Princess.)

She is one of the world's largest cruise ships, with a capacity of approximately 2,670 passengers.so i thought, one day this fund will grow so big, e.g. own a cruise company, i can bring you guys for a cruise tour (unless you don't like sea too much, haha)

since during this trip, my investors no. have reached 100! i am thinking the future of this fund.

there is a new business model called Freemium i am going to use, The word "freemium" is a portmanteau neologism combining the two aspects of the business model: "free" and "premium". which means the service is offered free, but if you want to have extra service, you need to become a membership that require investors to pay.

the way it works is this fund will own a lot of different companies, a normal investors do not need to be charged heavy management fee, but if you want some extra, e.g. discount from the shops and the companies MECHCalvin fund are currently invested, investors will need to pay a membership fee, then you will be given a card, this will encourage investors to spend in the shop they invested in, the profit will help the performance of this fund, eventually benefit the investors themselves, if some investors do not wish to pay, they surely still able to enjoy the growth of this fund, rather than let heavy management fee take away their return, it is a win-win.

at the moment there ain't a lot of business this fund is involving, but as time goes by, you will see more and more business will work with me, mainly my insurance clients, then the membership will become more attractive. And of course for you guys, as the first 100 investors, you will be given the memberships for free, as a thank you of trust at early stage :)

anyway, thanks to the dividend and interest pay, also the strong Manulife Asian Small Cap Fund, even the gold, stocks and currencies drop slightly, this month the fund still remain a positive gain, to $1.3204 per unit. It have also clearly show to overrun the market index.

 

Green line is MECHCalvin Fund, Black line is Hang Seng Index

Anyway, couple more pictures then I am out.

regards,

Calvin

postcard like cable cars



cycling next to the Golden Gate Bridge

Me at Golden Gate Bridge




Me at Apple Inc. headquarter with Steve Job's biography

Now and Then from my last visit to San Francisco back in 1995 (when i was 13)

2013年03月基金報告: Swim Against the Tide!

Fund price of this month 本月基金價格: 

$1.3122 +0.0082 (+0.629%)

Dear Investors,

the market have dropped -3.23% while my fund claw up 0.629%, it is extremely difficult to against the tide, but i think sometimes with a bit of "luck" and rightly place asset allocation, it is still achievable, the stocks, private fund drop along with the market, however the Manulife Asian small cap mutual fund showed no fear and increased a massive 2.49% this month, yet it alone is still not enough to win the battle.

it comes down to

1. the 8% interest being paid this month from the loan,

2. the defensive nature of the gold investment

3. Japanese Yen I brought is appreciating, period, and

4. investor's new subscription

have combined and save the day

I hope i can gather a group of intelligent investors here, that understand the game behind, also have the guts to establish a long term investment, like my preference of job, relationship, friendship and many things in life, i always target to build up something long term.

Happy Easter and thanks!

Calvin

Asset Allocation

	%	Current Value
Cash	7.43%	$69,373.00
Loan	39.63%	$370,000.00
Business	1.37%	$12,829.00
Gold	3.53%	$32,956.00
Mutual Fund	19.16%	$178,905.30
Private Fund	6.13%	$57,184.56
Stock	22.74%	$212,280.00
Total	100.00%	$933,527.86

Morpheus Fund (original installment $50,000)
2013
01 -1.9% $61,346.29
02 -4.0% $58,892.44
03 -2.9% $57,184.56
大市未有起色，我們也不能獨善其身，會更保守。

2013年02月基金報告

Fund price of this month 本月基金價格: 
HK$1.3036 (+0.29%)
Fund size: HK$924,680.33
No. of investors: 98
 

Still too busy to write a monthly report, since the fund have been run for couple years and pretty much on track, so I have decided i will get out details quarterly instead of monthly to save time.

i have purchase gold again due to the gold price drop, gold and properties (land) are the only two things that can preserve value in long run. Gold as the ultimate currency and properties (land) is the ultimate asset.

that's why in the biblical history, when God favor a person, He never promise to give him money, cows, sheep, but lands - promise land! or in the old days even nowadays, people call those who own land - landlord!

although in the past history, the appreciation of stocks or business venture always outrun gold and properties, yet its risky nature make many investors tend to feel safer investing in gold and properties. Anyway, here are few figures.

Investors count: 98
Fund size: 924,680.33
Latest unit price: $1.3036 (+0.29%)

Asset allocation:
Cash (all currencies): 6.48%
Loan: 40.01%
Business Venture: 1.28%
Gold: 3.58%
Manulife Mutual Fund: 18.87%
Morpheus Fund: 6.37%
Stocks: 23.41%
Total: 100%

The market is adjusting, so I will go defensive mode.

Morpheus Fund 2013 (initial capital $50,000 since Aug, 2012):
01 -1.9% $61,346.29
02 -4.0% $58,892.44
Comment: 較為不順的一月，往後會保守一點，宜至情況改善。

2013年01月基金報告

Too busy this month, so I will only state few important things

Fund price of this month 本月基金價格: 
HK$1.3007 (+3.97%)

Fund size: HK$922,644.72
No. of investors: 98

New Supporting Business: 

A. Cittababy 寶寶之城: www.facebook.com/cittababy, www.cittababy.com

it is a family business run by my cousin, if you want to buy babywear that is direct import from USA, check our website out and you will have a 10% discount.

B. 小倆口 S-Yoco: http://www.facebook.com/pages/%E5%B0%8F%E5%80%86%E5%8F%A3-S-Yoco/519120701442921, www.s-yoco.com

the only Taiwanese burger shop in HK, start running by one of my primary schoolmate in Feb, 2013.

Address is 96, Electric Raod @ Ching Fung Street, Tin Hau (香港天后電氣道96號@清風街地舖), come for a burger if you are around.

Both business are currently support by this fund, me act as business consultant and handle their insurance for both business.

HAPPY CHINESE NEW YEAR!!!

2012年12月基金報告: 以一個馬鼻跑贏

Fund Price of This Month 本月基金價格: 
 HK$ 1.2654 

Basic Information 基本資料

Launch Date 發行日期	2009/6/4
Launch Price 發行價值	1.00
Currency 貨幣	HKD 港元
Investment Management Fee 投資管理費	0.00%
Market Value 市值	HKD 882,782.83  港元
NAV per unit 單位資產淨值	1.2654

 

Calendar Year Performance 年度表現

Years		2009		2010		2011		2012
Fund	7.24%		22.07%		-27.34%		24.53%
HS Index	9.49%		18.09%		-27.48%		22.98%

Cumulative Performance 累積表現

	YTD 年初至今	Months 6 個月	1 yr 1 年	3 yrs 3 年	Since Launch 成立至今
Fund	24.53%	21.32%	24.53%	19.89%	26.54%
HS Index	22.98%	17.50%	22.98%	13.79%	23.28%

 

Manager's Comment 投資經理簡報

重要的會在2012年報說, 簡單本月總結2012年十分不錯, 但也只是跑贏大市一個馬鼻。受惠美國ＱＥ３，全球股市上升，本基金的股票，基金及私募基金上升至15%-38%不等。帶動本基金在2012年上升24.53%。

亮點是私募基金莫菲斯基金，自8月來，5個月一共上升25.07%，以五五分帳計算，真實是共升了50.14%。

*莫菲斯基金簡報by Kkman

Keeps moving strong, end 2012 with a high note. Let's be ready for 2013!