Author: The ThumbTack investor

Bye Bye BBR Holdings!

It took me almost 2 years to fully divest all my shares in BBR Holdings, but as of today (09/11/2018), FINALLY! Someone took the remaining shares from me so… for the 1st time in… 5 YEARS (yes, I’ve been an unfortunate shareholder for 5 years), TTI is no longer holding a single share in BBR Holdings. Good riddance! Well, I’ve written extensively about BBR Holdings, so I shan’t go back to talk about it much. At 1 point, I was holding over 2.3mil shares in BBR Holdings, and managed to divest just over half in 2017 at near it’s...

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TT Fund: From -146.63% To +14.11% in 2.5 weeks!

1st up, note that TT Fund is not = my personal fund. But I retain all rights to invest it as I deem fit. In my last post, which was barely what, 2 weeks ago?, TT Fund’s ROI has changed dramatically. And I mean dramatically. From -146.63% To +14.11% in 2.5 weeks! In my last post (TTI’s Personal US Fund + TT Holdings Fund Results YTD), TT Fund’s ROI was an absolutely horrifying……. LOL. -146.63% MWR. I got a little kick out of writing about it actually. It’s kinda funny. That’s what a short term MWR can do to...

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TTI’s Personal US Fund + TT Holdings Fund Results YTD

I’d just let the figures do the talking. There’s too much stuff to track now, and it’s getting messy and arduous. In the longer term though, as I shift my personal funds into the holdings’ fund, it’d simplify things a bit more. Gotta eat my own cooking. In the meantime, here goes: (I’m excluding my SG portfolio in this post, nothing much has changed since the last update, except for the paring down of some stakes and some cosmetic additions and divestments, all in the same usual names.) My personal US fund did pretty well in recent times, as...

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ThumbTack Fund. #$TR!J%@F()*&(*%#!!

This is the sequel to: Birth Of A New ThumbTack Fund: GFH Fund My luck couldn’t be any worse. I entered into 5 long positions for the portfolio, selling put options on AVGO, V, CTL and JNJ.  I’ve also sold calls on VXX (it’s a long position cos I’m indirectly shorting volatility). Total premiums: USD 2,557.99 4 of these were entered on Wed night / Thurs early morning… which was just 1 day before the carnage as the US markets dropped heavily in the Thursday and Friday sessions. Presumably cos of the hike in bond yields. Gosh. How irritating...

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Birth Of A New ThumbTack Fund: GFH Fund

I’ve spent the past several weeks since I’m back, trying to figure out the various methodologies, and what is the most commonly used (amongst professional money managers, that is) ways to track returns. Yes, it sounds trivial, but I’ve been taking it really seriously. I’d explain why later. As with the bulk of my DD done these days, I’m kinda lazy to type out my thought processes and findings, BUT I’d share my thoughts really briefly. Basically, I’ve come to realized that the Time Weighted Returns (TWR) and the Money Weighted Returns (MWR) can be drastically different for the...

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“Treh-Bu-Quah!!!”

TTI is back after a 1 month hiatus. I’ve been ticking off life goals… in an earlier post, (It’s somewhere around here. Lazy to go dig through and link it to this.) a reader commented that I should visit Mont Saint Michel in France over the famed Meteora in Greece… and since he’s actually visited both and stayed in France for some time, I’d defer to his expert opinion. So I did. And this is really as close as one gets to being Jon Snow. I mean… This is Harrenhal in GOT: And this is real-life Casterly Rock: And of...

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11% Returns In A Single Day. Thank You Blue Orca Capital!

Damn, the title looks so clickbait-ish. Except it’s not: Approximately USD 5.5K + of returns in 1 day, with an invested capital of approximately 50K +. Here’s the story. 3 days ago, Blue Orca Capital released a short attack on data centre operator, GDS Holdings. You can read the specifics here: https://static1.squarespace.com/static/5a81b554be42d6b09e19fc09/t/5b6070a60e2e72e41d0d78aa/1533046975799/Blue+Orca+Short+GDS+Holdings+%28NASDAQ+GDS%29.pdf BTW, I love how they open their short sell reports: “THIS RESEARCH REPORT EXPRESSES SOLELY OUR OPINIONS. We are short sellers. We are biased. So are long investors. So is GDS. So are the banks that raised money for the Company. If you are invested (either long or...

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Wow. In My 4 Years Of Experience In Options… This Is A First.

I wasn’t intending on a post so quickly after the previous one. But this is quite crazy. Some recent positions have done really well, really quickly. I’ve written, in real time, about each of these positions in InvestingNote. First, I bought some shares in Singtel at $3.12, trading it a mere 2 days later at $3.25, which is pretty good. I don’t really wanna write too much about this cos lotsa guys own Singtel, and it hasn’t been very rewarding. Many tortured souls out there, don’t want them coming up to me with pitch forks. Next, I built a...

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TTI: “I’m Sorry, It’s All Over Between Us. I’m Breaking Up With You”

Dear Disney, I’m sorry it has to end, but it’s all over between us. I’m breaking up with you.  I know, I know, we only really just got together barely a month plus ago (FY18Q2 -“Fun Isn’t Something One Considers When Balancing TTI’s Portfolio. But This…(heh heh heh heh) Does Put A Smile On My Face.”) Look, I’m not a player. I really thought we were going to last… I mean, we really connected the past month, didn’t we? We had really really good times together and I really planned on holding on to you. Some nights… oh my....

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Smile Just Got A Bit Wider

Thanos snaps his fingers and half the multiverse population disappears. TTI snaps his fingers and US ROI doubles. Yea, if u haven’t figured it out, TTI is a fan of Thanos. Avengers? Bleh. I don’t understand why is Thanos the villain. I know I’m the odd one out cos when I discussed my views, none of my friends agree. Yet, why exactly, is he the villain? He just wants to balance the universe. He’s not doing it for personal gain, he doesn’t gain anything. The glove’s destroyed after he used it btw. Yes, it looks like population genocide, but...

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FY18Q2 -“Fun Isn’t Something One Considers When Balancing TTI’s Portfolio. But This…(heh heh heh heh) Does Put A Smile On My Face.”

What do these have in common? Answer: Thanos, Tesseract, TTI, Thor are some of the most powerful characters/relics around……. oh, oh, and also, all of them belong to the Marvel Cinematic Universe, the rights of which are owned by The Walt Disney Company since 2009, and of which TTI is a newly minted shareholder. (And still increasing my position gradually via options). Infinity Wars has also garnered $2bil in ticket sales worldwide… and counting. The company garners $8bil in FCF every year, and what’s even better is that instead of distributing that in the form of dividends, the management...

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TTI’s Short Hedges

Since my previous post on Dutech (Dutech Holdings FY17’s AGM), the company has released it’s FY18Q1 results and I’ve had time to peruse it. I feel pretty much  vindicated, although the headline news don’t quite describe it as such. Anyway, maybe I’d write about some new findings in the next post. Of late, markets have been on a tear. US earnings season is well underway and in fact, near completion. Judging from how the S&P index has been performing, it seems like the general consensus is that good times are back, and that the earnings thus far, have met...

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Dutech Holdings FY17’s AGM

1stly, something unrelated to Dutech Holdings. I drove down to BBR Holding’s project, The Wisteria to take a look today. Kinda disappointing that the project is taking so long to TOP. I was informed by sources a few months ago that it’s slated to TOP in mid April. So, obviously, they’re late, cos today it still looks like this: Officially, the given time frame for TOP is announced as Q2, so the project is not considered delayed. (But unofficially, I know it is) I can see the signboards of the various tenants though, so it can’t be too far...

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Convertible Bonds + Bye Bye LTC!

Zero posts in the past few weeks, and for good reason too. Phew. I’ve been busy working on the convertible bond offering, and finally, I’ve some tangible results to show for it. As I was discussing with a friend, life is really funny sometimes. Sometime ago, I was looking for potential co-investors and not getting much headway after meeting many different folks. Barely a week later, I’m now kinda flooded and am not really looking for any more capital. There’s a limit to the amount of convertible bonds that’s allotted to me anyway. I have to keep some for...

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1Q 2018 Report Card

1st up, I’d clarify, as I’ve always done so for previous quarterly report cards, that I track returns using XIRR. So this means that the time value of cash is taken into account in the results, but it also skews the annualized XIRR figures for now, as it’d assume the exact same rate of return for the rest of the year. For 1Q 2018, STI ETF produced a XIRR of 4.01%, inclusive of dividends. TTI’s portfolio, inclusive of US holdings and options, produced a XIRR of 6.22%.  AUM grew to $1,462,273.22, inclusive of capital injections, of which almost 35%...

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