Tuesday, November 26, 2013

My Six MFI Tranches Versus FNSAX

Someone asked how using the MFI approach (individual stock selection) compares against the Mutual Fund FNSAX, which uses the same approach to a large extent.  All else being equal, I think you would expect individual stock picking to be better as the expenses should be lower.  But all else is rarely equal.  We often bring biases into our stock selections.  In addition, 6 tranches is really too short a stretch to make a judgement. It is like trying to know if you have won the poker hand before all the cards in the river are shown.

I am pleased to say I am ahead by about 10 points (versus the 22 I am beating the R3K).  My first two tranches under-performed, but the 4 active ones are all winning.

8/15/12 Stocks Start Current Dividend Pct Gain FNSAX
DLB $34.43 $33.04 $4.00 7.6% 26.6%
KFY $13.98 $18.95 $0.00 35.6% 26.6%
MSFT $30.19 $31.92 $0.92 8.8% 26.6%
NSU $3.62 $3.33 $0.12 -4.6% 26.6%
UIS $19.96 $24.52 $0.00 22.8% 26.6%
Totals 14.1% 26.6%
11/15/12 Stocks Start Current Dividend Pct Gain FNSAX
AAPL $537.62 $527.28 $8.75 -0.3% 48.7%
ABC $40.21 $69.23 $0.86 74.3% 48.7%
LPS $23.89 $34.26 $0.40 45.1% 48.7%
VIAB $49.12 $80.94 $1.15 67.1% 48.7%
WU $12.77 $16.40 $0.50 32.3% 48.7%
Totals 43.7% 48.7%
2/1/13 Stocks Start Current Dividend Pct Gain FNSAX
AAPL $450.60 $523.74 $8.75 18.2% 35.8%
GA $6.10 $11.41 $0.42 94.0% 35.8%
STRZA $16.06 $27.37 $0.00 70.4% 35.8%
CA $25.07 $32.86 $1.00 35.1% 35.8%
NUS $41.94 $123.78 $1.20 198.0% 35.8%
Totals 83.1% 35.8%
5/6/2013 Start Current Dividend Pct Gain FNSAX
KLIC $11.40 $12.45 $0.00 9.2% 24.2%
CYOU $29.24 $28.07 $0.00 -4.0% 24.2%
RDA $9.74 $17.98 $0.10 85.7% 24.2%
NVDA $13.85 $15.51 $0.24 13.7% 24.2%
CF $183.97 $213.64 $1.80 17.1% 24.2%
Totals 24.3% 24.2%
8/15/2013 Start Current Dividend Pct Gain FNSAX
CF $187.26 $213.64 $1.00 14.6% 13.0%
FLR $66.06 $78.29 $0.16 18.8% 13.0%
AGX $15.60 $22.50 $0.75 49.0% 13.0%
KLIC $11.29 $12.45 $0.00 10.3% 13.0%
RPXC $15.92 $16.76 $0.00 5.3% 13.0%
Totals 19.6% 13.0%
11/15/13 Stocks Start Current Dividend Pct Gain FNSAX
AVG $17.22 $17.22            -   0.0% 0.1%
ATVI $17.71 $17.41            -   -1.7% 0.1%
GA $9.04 $11.41            -   26.3% 0.1%
RPXC $17.04 $16.76            -   -1.6% 0.1%
SYNA $48.01 $49.16            -   2.4% 0.1%
Totals 5.1% 0.1%
Category/Tranche August November February May Total
Initial Investment   25,000       25,000     25,000      25,000    100,000
Current Tranche 19.6% 5.1% 83.1% 24.3% 32.6%
Previous Tranche 14.1% 43.7% 0.0% 0.0% 12.2%
MFI Overall Gain 36.4% 51.0% 83.1% 24.3% 48.7%
Current Balance   34,101       37,756     45,782      31,086    148,725
FNSAX Current Tranche 13.0% 48.7% 35.8% 24.2% 30.4%
FNSAX Overall Gain 43.1% 48.7% 35.8% 24.2% 38.0%
FNSAX Balance   35,775       37,175     33,940      31,062    137,951
Annualized IRR 27.4% 49.2% 109.6% 47.6% 58.4%

1 comment:

jb said...

Unfortunately, the Formula Investing mutual funds may not work as 'pure' comparisons much longer. Pending shareholder approval the US-focused funds will be merged into a Gotham fund that has a long/short strategy. The international-focused Formula Investing funds will be liquidated.
regards,
j