After dipping to its life worst draw-down of around 7% last week, mi50 pulled back up smartly to close a percent shy of AllTimeHighs. The mi50 closed at 31.97% absolute returns since Apr 1 2016. A nice looking cup shaped recovery can be seen on the charts while the benchmarks were largely flattish.
A great turnaround happened in UperGanges this week when it turned from sub 300 levels to 400+ again. A drop from 500 + to under 300 was well negotiated by the system in place.It now leads with a 230% profit gain.
There are no changes this week. The portfolio holds 49 stocks and some Liquid Bees.
KSL, Balamines, BodalChem, CholaFin, EDC Jamna Auto, Kirind, OrientPaper, PEL, are some of the existing stocks in the portfolio gaining more than 50% each. The worst loser in the mi50 pack is StarPaper at -4%. The key theme remains ride the winners and get rid of the losers.
The internals look good with
We can now stick our neck out and say that come what may, mi50 will not lose absolute capital in 201617 and notwithstanding a global equity shock, we are well on our way to beat the initial expectations set for this strategy.
Have a safe weekend.