While I have been very successful with my MFI tranches this year (way ahead in my select and slightly ahead in my formula), the same can not be said of MFI in general. My monthly open tracking portfolios continue to underperform, The open tracking portfolios are down an average of 1.7% versus the open R3K benchmarks being up 2.2%.
The same is true for my MFI Index, which I reconstitute once a year. It is down 2.7%, so very consistant with my tracking performance. Finally, GARIX, which is a MFI mutual fund (consisting of both long and short positions) is down 6.6%. That is pretty sucky (to get technical).
We have always known MFI is streaky. It seems we're in a bad streak. Here are the fifty stocks from my index and how they've done for the year and the 4th quarter:
| Stock | Start | 30-Sep | Current | YTD Change | 4th Q Chg |
| ADMS | 17.37 | 16.74 | 16.42 | -5.5% | -1.9% |
| AFOP | 14.51 | 17.09 | 14.38 | -0.9% | -15.9% |
| ANIK | 40.74 | 31.83 | 42.59 | 4.5% | 33.8% |
| APOL | 34.11 | 11.06 | 7.80 | -77.1% | -29.5% |
| AGX | 33.64 | 34.68 | 37.72 | 12.1% | 8.8% |
| AVID | 14.21 | 7.96 | 6.66 | -53.1% | -16.3% |
| AWRE | 4.54 | 3.35 | 3.23 | -28.9% | -3.6% |
| BCOR | 13.85 | 13.77 | 10.12 | -26.9% | -26.5% |
| BKE | 52.52 | 40.43 | 38.06 | -27.5% | -5.9% |
| CA | 30.45 | 28.05 | 28.15 | -7.6% | 0.4% |
| CSCO | 27.82 | 26.86 | 29.27 | 5.2% | 9.0% |
| COH | 37.56 | 29.94 | 33.07 | -11.9% | 10.5% |
| DLX | 62.25 | 56.64 | 60.05 | -3.5% | 6.0% |
| DEPO | 16.11 | 18.85 | 19.87 | 23.3% | 5.4% |
| EBIX | 16.99 | 25.19 | 31.64 | 86.2% | 25.6% |
| FLR | 60.63 | 42.98 | 49.77 | -17.9% | 15.8% |
| GME | 33.80 | 42.29 | 47.90 | 41.7% | 13.3% |
| GORO | 3.38 | 2.62 | 2.35 | -30.5% | -10.3% |
| ONE | 4.21 | 1.97 | 3.22 | -23.5% | 63.5% |
| IQNT | 19.63 | 22.78 | 19.78 | 0.8% | -13.2% |
| IDCC | 52.90 | 51.20 | 55.09 | 4.1% | 7.6% |
| IILG | 20.89 | 18.60 | 18.22 | -12.8% | -2.0% |
| ITRN | 22.04 | 21.22 | 22.63 | 2.7% | 6.6% |
| KING | 15.36 | 14.48 | 18.75 | 22.1% | 29.5% |
| LCI | 42.88 | 41.52 | 37.77 | -11.9% | -9.0% |
| LFVN | 9.10 | 5.67 | 8.48 | -6.8% | 49.6% |
| LQDT | 8.17 | 7.39 | 8.62 | 5.5% | 16.6% |
| MSB | 17.28 | 12.67 | 9.65 | -44.2% | -23.8% |
| NHTC | 11.45 | 32.77 | 50.98 | 345.2% | 55.6% |
| NSR | 27.80 | 27.21 | 25.47 | -8.4% | -6.4% |
| NUS | 43.70 | 42.33 | 36.01 | -17.6% | -14.9% |
| PDLI | 7.71 | 5.18 | 4.53 | -41.2% | 0.0% |
| PFMT | 6.65 | 2.42 | 2.39 | -64.1% | -1.2% |
| PETS | 14.37 | 16.44 | 17.88 | 24.4% | 8.8% |
| PBI | 24.37 | 20.41 | 21.83 | -10.4% | 7.0% |
| RPXC | 13.78 | 13.72 | 14.15 | 2.7% | 3.1% |
| SPOK | 17.36 | 16.84 | 18.63 | 7.3% | 10.6% |
| STRA | 74.28 | 54.97 | 53.45 | -28.0% | -2.8% |
| RGR | 34.63 | 59.54 | 53.72 | 55.1% | -9.8% |
| TTWO | 28.03 | 28.73 | 34.20 | 22.0% | 19.0% |
| TDC | 43.68 | 28.96 | 28.83 | -34.0% | -0.4% |
| TZOO | 12.62 | 8.27 | 9.74 | -22.8% | 17.8% |
| TPUB | 22.90 | 8.19 | 9.88 | -56.9% | 20.6% |
| UBNT | 29.64 | 33.89 | 33.99 | 14.7% | 0.3% |
| UIS | 29.48 | 11.90 | 14.26 | -51.6% | 19.8% |
| USNA | 102.59 | 134.03 | 132.71 | 29.4% | -1.0% |
| VEC | 27.40 | 22.04 | 26.14 | -4.6% | 18.6% |
| VIAB | 75.25 | 44.28 | 48.84 | -35.1% | 10.3% |
| WTW | 24.84 | 6.38 | 22.89 | -7.9% | 258.8% |
| WILN | 2.99 | 1.94 | 1.29 | -56.9% | -33.5% |
| Total | 19,816 | 17,853 | 19,336 | -2.4% | 8.3% |
It is telling that 15 of the 50 stocks are down more than 20%. And 5 are down more than 50%.
It is easy to get discouraged after a year like this. But both my reboot and the formula are hanging in there, so that helps me psychologically. And I do truly believe that there are more and better values on the list than I saw a year ago. Back then, I was really stretching to sometimes come up with 5 names to buy. Looking at upcoming November tranche, I am having trouble paring down the list of 14 stocks to 5. So there is that.
Posts
No comments:
Post a Comment