Special Situations Real Money Portfolio Third Quarter 2011 Update

The Special Situations Real Money Portfolio ended the third quarter of 2011 with a balance of $38,633.48 when the market closed on September 30, 2011. The portfolio is down 5.69% for the year. In comparison, the total year to date return for the S&P 500 was -8.68% as of September 30, 2011. In general, 2011 has been a rough year for the stock market so far.

Thankfully, the Special Situations Real Money Portfolio has produced a total return of 221.95% since inception back in 2004. The annualized rate of return to date is still a healthy 23.63%.

Special situation opportunities have been exceedingly hard to find. Many of the available deals have been of lower quality and higher risk variety. I am hoping things will turn around soon.

Balance: $38,633.48
IRR: 23.63%
Return: 221.95%
YTD: -5.69%

2 thoughts on “Special Situations Real Money Portfolio Third Quarter 2011 Update

  • October 5, 2011 at 12:22 pm

    I’ve got a value investing question I was hoping you might be able to answer although it’s somewhat unrelated to your post so if this bother’s you then obviously feel free to delete this and move right on.
    Alternatively, I’d appreciate some insight regarding Leucadia National. I’m relatively new to value investing and LUK clearly have the whole “mini-Berkshire” thing going on though there are a couple of clear differences to be sure.
    What I’m wondering mostly though is what their P/E ratio is? Basically, the NYTimes business site as well as Yahoo and Google Financial all put it around 2 or 3 while a number of other sites put it at around 7 or 8.
    Is this just me or am I missing something important here? Furthermore, if it is actually around 2 or 3 then surely even with the few difficulties they’ve had the management of LUK can’t have become useless value investors overnight and this must be a ridiculously good price for some guys and a company with such a brilliant history of honest, competent management.
    Any input on this would be much appreciated if you should decide to respond.
    Best Regards,
    Tony Clayton.

  • December 11, 2011 at 10:08 pm

    Is there a reference to what the portfolio is currently holding? Or are we simply tracking CSD, the Special Situations ETF by Guggenheim?

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