The Fund's Annual End of the Year Report: 2005
SUMMARY:
The year 2005 was a very tough year for Contax's Five & Dime and Two $$ Too Investment Fund (CFDTDF)! In my second full year managing this experimental Fund, I fell way short of my goal of triple digit return. I mean waaaaaay short! To say that I am a bit chagrined, would be an understatement…
Last year, my Fund’s first year of existence, I was able to muster a pretty decent return of 42.96%. (Just to keep the record straight, the Fund’s first full year lasted a bit longer than a conventional year…to be more precise: 13 months and 2.5 weeks!) However, this year, as you will see in this report, I was lucky to eke out a rate of return that was barely half as good!
The Fund, ended its 2nd year of existence on December 31st 2005, with a Net Asset Value (NAV) of $35,343.93, a gain of $6,751.36 from its December 31st 2004 closing value of $28,592.57. Therefore, for the year, the Fund gained 23.61%. In that same period, the S&P 500, was up 36.37 points, from its January 1st 2005 starting price of $1,211.92 and its end of the year close of 1,248.29 points, a gain of 3.00%. On a head-to-head comparison basis with the Fund’s benchmark, the Contax’s Five and Dime Fund outperformed the S&P 500 by almost 8:1 margin.
The CFDTDF Fund's current Net Asset Value (NAV): $35,343.93
(As of December 31st 2005)
The CFDTDF Fund's original Net Asset Value (NAV) (Nov. 9th. 2003): $20,000
The CFDTDF Fund's Net Asset Value (NAV) on December 31st 2004: $ 28,592.57
Net Gain or (Loss) in CFDTDF Fund's value since the Fund's inception: + $15,343.93
Percentage change in the CFDTDF Fund's NAV since its inception on Nov 9th. 2004: + 76.72%
Net Gain or (Loss) in CFDTDF Fund's value in the Year 2005: + $6,751.36
Percentage change in the CFDTDF Fund's NAV in the Year 2005: + 23.61%
The S&P 500 current reading: 1,248.29 (As of December 31st 2005)
The S&P 500’s original value, as of November 9th. 2003: 1,053.21
The S&P 500 value on January 1st 2005: 1,211.92
Net Gain or (Loss) in the S&P 500 since the Fund’s inception: +195.08 points
Net % change in the S&P 500 since the Fund’s inception: +18.52%
Net Gain or (Loss) in the S&P 500 since January 1st 2005: +36.37 points
Net % change in the S&P 500 in the Year 2005: +3.00%
Fund's Performance versus the S&P 500: + 20.61%
The following, is the Contax's Five & Dime and Two $$ Too Investment
Fund’s (CFDTDF) current stock holdings along with their
respective End of the Year closing price(s):
Updated Fund Position as of December 31st 2005:
1) CMNN: 7,000 shares Valued at $9,450.00 (December 31st 2005 Closing Price: $1.35)
2) BLLI: 3,500 shares Valued at $7,175 (December 31st 2005 Closing Price: $2.05)
3) PPHM: 6,800 shares Valued at $6,324.00 (December 31st 2005 Closing Price: $1.03)
4)MOBL: 30,000 shares Valued at $5,220.00 (December 31st 2005 Closing Price: $0.174¢)
5) EZEN: 1,000 shares Valued at $2,410.00 (December 31st 2005 Closing Price: $2.41)
6) PHPG: 1,590 shares Valued at $2,305.00 (December 31st 2005 Closing Price: $0.90¢)
7) BIPH: 517 shares Valued at $785.84 (December 31st 2005 Closing Price: $1.52)
8) MKRS: 4,038 shares Valued at $686.46 (December 31st 2005 Closing Price: $0.17¢)
9) BSIC: 200 shares Valued at $430.00 (December 31st 2005 Closing Price: $2.15)
10) NEOM: 1,000 shares Valued at $304.00 (December 31st 2005 Closing Price: $0.304¢)
11) ADVR: 1,000 shares Valued at $70.00 (December 31st 2005 Closing Price: $0.07¢)
12) SLXI: 1,000 shares Valued at $31.00 (December 31st 2005 Closing Price: $0.031¢)
13) $Cash$ on December 31st 2005: $152.13
The current holding(s) as a percentage of the CFDTDF Fund's present Net Asset Value (NAV) of $35,343.93 is as follows:
1) CMNN = 26.74%
2) BLLI = 20.30%
3) PPHM = 17.89%
4) MOBL = 14.77%
5) EZEN = 6.82%
6) PHPG = 6.52%
7) BIPH = 2.22%
8) MKRS = 1.94%
9) BSIC = 1.22%
10) NEOM = 0.86%
11) ADVR = 0.20%
12) SLXI = 0.09%
13) $Cash$: 0.43%
The Current NAV of the Fund is $35,343.93
To date, the total percentage of the NAV invested: 99.57%.
Present cash position of the Fund: $152.13
Cash Available to Purchase: $152.13
Final Thoughts: Looking back at the Year 2005, I am extremely
disappointed with my performance as the Manager of the CFDTD Fund.
Beating the benchmark S&P 500 Index by an 8x margin may be a bit satisfying,
but the fact that I did not beat my own performance of last year, is personally,
very disappointing…And coupled with the fact that I was nowhere close to
my yearend target of triple digit return, my performance is all the more shabby!
Reflecting back, I can now clearly see the things that I did wrong and hope to
correct those missteps in 2006. And then of course, two of my biggest bets, namely
MOBL and PPHM, both in their respective infinite wisdom(s), decided to saunter in
a direction which was at complete odds with my plans/projection(s). However, I am
quite hopeful that they will both perform well for my Fund in the Year 2006.
So what is my goal for this New Year…
Once again I will shoot for triple digit gains in calendar year 2006 and being the
perennial optimist, I am even more confident that I will be able to achieve this year
that which eluded me last…
Cheers!
contax
