Now this is the perfect post for Friday afternoon when no one is looking. It kind of reminds me of the late Friday SEC filings that companies like to post when they have bad news to report. The Fat Pitch Financials Port numbers were simply ugly for 2008.
In 2008, the Fat Pitch Financials Port lost -38.33%. This is not the type of performance I expected, but the S&P 500 also returned -37.00% according to the statistics provided by Marketocracy. Thankfully, the last month has been much better. The Fat Pitch Financials Portfolio gained 8.87% in December, but the S&P 500 returned 10.97% over the same period. As you can see in the chart below, the Fat Pitch Financials Portfolio has been following the major indexes closely.
The one positive thing to report is that over the last quarter the portfolio returned +8.87% versus +10.97% for the S&P 500. I’m hoping this is a sign that I’ll break free of the S&P 500 and start on a positive trend. I still have a 15% cash position to put to work and help this portfolio climb out of the hole its in.
Below is a list of the portfolio’s current positions and their ugly return numbers:
Finally, I should report the performance numbers since inception. The Fat Pitch Financials Port has returned -13.76% so far versus -12.91% for the S&P 500 over the same time period. This comes out to a negative 3.4% annualized return. Not the type of investment returns a value investor hopes for, but I also have to remind myself that this portfolio is only four years old. Several professional value investors have also struggled over these past few years. I’m going to be working real hard in 2009 to boost the five year performance numbers for the Fat Pitch Financials Portfolio. Return here next year to see if I’m able to turn this portfolio around.
Disclosure: I own shares in all the companies mentioned in this post.