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Island Investing

Riffs, rants, and the upside of investing from way off Wall Street


A Motion to Make Them Dog-Years

My firm’s Tarpon Folio had its six month anniversary in May. Beers at the Green Turtle soon.

It’s been a remarkable start for Tarpon. Sure, our little Spoke Fund® is only six months old, but that nutty period in the history of capitalism should be counted like dog-years, no?

Here’s where we are since inception:

Tarpon Folio May '09

Through the end of May, the Tarpon Folio was outperforming the S&P 500 by 44.4% – but there is simply no way this kind of performance can continue. Luck has certainly played a role. So, we’re taking these short-term results for whatever they’re worth.

My next Letter to Investors will be coming out soon. Sign up in the Cale’s Email Newsletter box at right.

Here’s our movie on the Tarpon Folio, and some marketing propaganda. And performance is calculated in the above using a simple holding period return formula.

Also, Lawyer Todd sends his best:

Disclaimer: This performance is highly unusual and cannot be sustained. Because the portfolio contains a limited number of companies, its returns will be more volatile than a portfolio investing in a higher number of stocks. Fund inception date 11/20/2008. Returns above are as of 5/31/09. Positive returns are not guaranteed. Individual results will vary depending on market conditions and investing may cause capital loss. The performance data is “net of all fees” reflecting the deduction of advisory fees, brokerage commissions and any other client paid expenses and includes the reinvestment of capital gains. The publication of this performance data is in no way a solicitation or offer to sell securities.