Fat Pitch Financials Portfolio Third-Quarter 2008 Update
The Fat Pitch Financials Portfolio ended the third quarter battered. This Marketocracy portfolio ended the month down -7.10% versus -8.84% for the S%P 500. Over the past quarter, the portfolio is down -1.77% versus -7.05% for the S%P 500 over the same period. Thankfully, the portfolio is still up 18.51% since inception. The annualized performance of the FPF Portfolio since inception in 2004 is still a positive 4.30% versus 2.75% for the S%P 500 over the same period.
The following table provides a breakdown of my current holdings and their performance:
Fat Pitch Financials Holdings as of September 30, 2008
| Symbol | Â Price | Â Shares | Â Value | Â Portion of Fund | Â Inception Return |
| Â WU | Â $24.67 | Â 2290 | Â $56,494.30 | Â 4.75% | Â 13.09% |
| Â WEST | Â $14.40 | Â 5770 | Â $83,088.00 | Â 6.99% | Â 10.72% |
| Â MSFT | Â $26.69 | Â 8220 | Â $219,391.80 | Â 18.46% | Â 10.53% |
| Â KFT | Â $32.75 | Â 2000 | Â $65,500.00 | Â 5.51% | Â 8.99% |
| Â USB | Â $36.02 | Â 2940 | Â $105,898.80 | Â 8.91% | Â 5.81% |
| Â EBAY | Â $22.38 | Â 2760 | Â $61,768.80 | Â 5.20% | Â 2.69% |
| Â BID | Â $20.06 | Â 5540 | Â $111,132.40 | Â 9.35% | Â -11.20% |
| Â BR | Â $15.39 | Â 2600 | Â $40,014.00 | Â 3.37% | Â -20.26% |
| Â PFE | Â $18.44 | Â 2010 | Â $37,064.40 | Â 3.12% | Â -25.94% |
| Â MHP | Â $31.61 | Â 1610 | Â $50,892.10 | Â 4.28% | Â -27.42% |
| Â LENS | Â $2.41 | Â 12140 | Â $29,257.40 | Â 2.46% | Â -36.73% |
| Â MWRK | Â $13.88 | Â 6710 | Â $93,134.80 | Â 7.84% | Â -37.37% |
| Â USG | Â $25.60 | Â 1080 | Â $27,648.00 | Â 2.33% | Â -45.01% |
| Â PRXI | Â $1.80 | Â 13610 | Â $24,443.56 | Â 2.06% | Â -59.34% |
The total value of this paper portfolio was $1,188,528.29 (11.89 per share) on September 30, 2008. Of that amount, $1,005,728.36 was invested in stocks and $182,799.93 remained in cash. The cash position still represents 15% of the portfolio.
This past month this portfolio saw quite a bit of activity compared to normal. On September 17th, I added additional shares of Sotheby’s (BID) to the account at an average cost of $20.79 per share. Then on Septemeber 22nd, I started a new position in eBay (EBAY). I’ve been looking to add a few more stocks given all the chaos in the market. I’ll let you know how that develops.
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