Since I am now doing a financial blog I have decided to keep readers updated on my personal STI hedge fund results. I have no credibility if you do not know if my recommendations and approach are netting positive results.
For the first quarter to end March 31. 2011, quarter result gain of 3.77% or .15.08% annualized net expenses. Expenses annualized 1.3%. Good quarter, but below my 17.2% annual gain of 2010 and likely generational high of 32.2% of 2009. Excellent gains in oil and copper trades, good results in utility, real estate, and telecom trades. No net losses for quarter. I am carrying a couple of losses forward in WIN and FTR. Two telecom stocks that have sold off recently. I do expect recovery there so I am holding them and continuing to sell options on them and net nice almost double digit dividends.
My outlook for the second quarter 2011 is muted. If the Fed carries through with their plan to end quantitative easing June 30 it is certainly possible that the day they confirm this action the market will sell off significantly. Risk might will need to be pared back as we end the last month of the quarter. That could limit profits for the quarter.
I am feeling smug this morning with the report that the average hedge fund made .03% first quarter. With that said I know 15% sounds good to most people, but frankly I am not happy with the first quarter results. My goal is 18% plus annually. But I suppose in this environment this is about as good as can be done.
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