The Enlightened American Portfolio
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Disclaimer: This page details our actual portfolio for informational purposes only.This does not constitute an endorsement and/or solicitation for the reader to invest in these stocks.I'm fully aware I can lose all my money and you should be aware of that as well. Each investor's goals and time horizons are different and these investments may not be appropriate for your goals and time line.
* stock report available (click link)
ENLIGHTENED AMERICAN PORTFOLIO 1/1/2009
Company Ticker Entry Date Last Close Price @ 01/01/08 or entry YTD Gain/Loss YTD Div (per share) YTD Return Inc Dividend Entry Price Total Div Total Return
Penn West Energy* PWE 2/13/2007 $11.12 $26.00 -57.2% $3.56 -43.5% $30.11 $6.76 -40.6% (c) one-third of position exited.Weights adjusted accordingly.
Central Fund of Canada CEF 2/26/2007 $11.22 $10.81 3.8% $0.01 3.9% $9.94 $0.02 13.1%
General Electric* GE 4/13/2007 $16.20 $37.07 -56.3% $1.24 -53.0% $35.16 $2.08 -48.0%
Ensco International* ESV 10/30/2007 $28.39 $59.62 -52.4% $0.10 -52.2% $54.80 $0.13 -48.0%
Minefinders* MFN 2/15/2008 $5.15 $9.95 -48.2% $0.00 -48.2% $9.95 $0.00 -48.2%
Nam Tai Electronics* NTE 9/16/2008 $5.50 $8.60 -36.0% $0.22 -33.5% $8.60 $0.22 -33.5%
Freeport McMoran Copper FCX 9/16/2008 $24.44 $63.00 -61.2% $0.50 -60.4% $63.00 $0.50 -60.4%
Brookfield Asset Mgmt* BAM 9/17/2008 $15.27 $25.80 -40.8% $0.13 -40.3% $25.80 $0.13 -40.3%
Intel Corporation INTC 9/29/2008 $14.66 $17.73 -17.3% $0.14 -16.5% $17.73 $0.14 -16.5%
GlaxoSmithKline GSK 10/8/2008 $37.27 $39.79 -6.3% $0.00 -6.3% $39.79 $0.00 -6.3%
Goldcorp 01/11 call spread GG 10/10/2008 $31.53 $23.50 34.2% $0.00 34.2% $23.50 $0.00 34.2% Call spread capped @ $20 - $30 .Return % shown is measured as closing price less effective price divided by return on total contract value (100 shares x effective price).Real return is more leveraged due to nature of using options.
Yamana Gold* AUY 10/14/2008 $7.72 $10.70 -27.9% $0.01 -27.8% $10.70 $0.01 -27.8% (auy) related transaction;Option premium has been deducted from assigned share price.
Northgate Minerals NXG 10/17/2008 $0.83 $0.70 18.6% $0.00 18.6% $0.70 $0.00 18.6%
Applied Materials AMAT 10/17/2008 $10.13 $15.10 -32.9% $0.06 -32.5% $15.10 $0.06 -32.5% (amat) related transaction;Option premium has been deducted from assigned share price.
iShares MSCI Singapore ETF EWS 10/20/2008 $7.05 $7.81 -9.7% $0.29 -6.0% $7.81 $0.29 -6.0%
Petrobras 01/11 call spread PBR 10/24/2008 $24.49 $23.00 6.5% $0.00 6.5% $23.00 $0.00 6.5% Call spread capped @ $20 - $30 .Return % shown is measured as closing price less effective price divided by return on total contract value (100 shares x effective price).Real return is more leveraged due to nature of using options.
BP PLC BP 10/27/2008 $46.74 $40.80 14.6% $0.84 16.6% $40.80 $0.84 16.6%
Chesapeake Energy Prfd D* CHK-PD 11/14/2008 $59.85 $63.50 -5.7% $1.13 -4.0% $63.50 $1.13 -4.0%
Northgate Minerals NXG 12/22/2008 $0.83 $2.10 -60.5% $0.00 -60.5% $2.10 $0.00 -60.5% (nxg) related transaction;Option premium has been deducted from assigned share price.
Current Portfolio: -22.3% -20.9% -19.8%
SOLD HOLDINGS - This will list all stocks sold since the beginning of this year.
Close Date Company Ticker Entry Date Price Sold Price @ beg. of year or entry 2008 Gain/Loss 2008 Div (per share) 2008 Return inc Dividend Initial Entry Price Total Div Total Return
1/10/08 TLM MW* TLM MW 9/12/2007 $1.10 $0.15 5.4% $†††††††††† -†† 5.4% $†† 0.15 $†† -†† 5.4% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
2/21/08 AUY PV* AUY PV 12/4/2007 $1.40 $0.15 10.0% $†††††††††† -†† 10.0% $†† 0.15 $†† -†† 10.0% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
2/19/08 PDS OC PDS OC 12/4/2007 $1.25 $0.05 8.0% $†††††††††† -†† 8.0% $†† 0.05 $†† -†† 8.0% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
1/19/08 HRZ MW* (Expired) HRZ MW 12/10/2007 $1.35 $0.00 7.7% $†††††††††† -†† 7.7% $†† 0.00 $†† -†† 7.7% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
5/16/08 DQS QG*(Assigned) DQS QG 1/2/2008 $5.50 ASSIGNED 0.0% $†††††††††† -†† ASSIGNED   $†† -†† ASSIGNED (acas) related transaction;Option premium has been deducted from assigned share price.
4/21/08 TLM SC* TLM SC 1/30/2008 $1.10 $0.15 6.3% $†††††††††† -†† 6.3% $†† 0.15 $†† -†† 6.3% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
4/3/08 HRZ PW* HRZ PW 1/30/2008 $1.85 $0.35 8.6% $†††††††††† -†† 8.6% $†† 0.35 $†† -†† 8.6% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
5/15/08 IAR RZ IAR RZ 3/28/2008 $0.35 $0.05 12.0% $†††††††††† -†† 12.0% $†† 0.05 $†† -†† 12.0% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
2/25/08 Teck Cominco* TCK 4/13/2007 $37.50 $35.71 5.0% $††††††† 0.51 6.4% $ 36.34 $0.98 5.9% split adjusted
6/27/08 AUY VG* AUY VG 4/23/2008 $1.25 $0.30 7.9%   7.9% $†† 0.30 $†† -†† 7.9% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
5/19/08 Agnico Eagle Mining* AEM 4/30/2007 $70.15 $54.63 28.4% $††††††† 0.18 28.7% $ 35.23 $0.18 99.6% (b) one-third of position exited.Weights adjusted accordingly.
5/22/08 Penn West Energy Trust* PWE 2/13/2007 $35.42 $26.00 36.2% $††††††† 1.68 42.7% $ 30.11 $4.88 33.8% (c) one-third of position exited.Weights adjusted accordingly.
8/18/08 MFN TB* (Assigned) MFN TB 6/24/2008 $1.00 $0.00 10.0%   10.0% $†† 0.00 $†† -†† 10.0% Even though put options were assigned, the effective price of $9.00 per share was lower than the initial entry price so the option premium has been included in realized returns to reflect this.
12/22/08 NXG XZ* (Assigned) NXG XZ 6/26/2008 $0.40 ASSIGNED       ASSIGNED $†† -†† ASSIGNED (nxg) related transaction;Option premium has been deducted from assigned share price.
11/11/08 DQS WX* DQS WX 6/30/2008 $2.85 ASSIGNED       ASSIGNED $†† -†† ASSIGNED (acas) related transaction;Option premium has been deducted from assigned share price.
6/30/08 Agnico Eagle Mining* AEM 4/30/2007 $74.60 $54.63 36.6% $††††††† 0.18 36.9% $ 35.23 $0.18 112.3% (b) Remaining two-thirds of position exited.Weights adjusted accordingly.
8/18/08 DQS HF* (Expired) DQS HF 7/2/2008 $0.35 $0.00 1.2%   1.2% $†† 0.00 $†† -†† 1.2% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
10/17/08 TLM VW* TLM VW 7/29/2008 $1.55 ASSIGNED 0.0% $†††††††††† -†† ASSIGNED   $†† -†† ASSIGNED (tlm) related transaction;Option premium has been deducted from assigned share price.
10/14/08 AUY VG* (Assigned) AUY VG 7/29/2008 $1.30 ASSIGNED 0.0% $†††††††††† -†† ASSIGNED   $†† -†† ASSIGNED (auy) related transaction;Option premium has been deducted from assigned share price.
1/0/00 AUY MB* AUY MB 8/5/2008 $1.30         $††††† -†† $†† -†† 0.0%
11/24/08 MFN WU* (Assigned) MFN WU 8/11/2008 $1.05 $0.00 14.0%   14.0% $†† 0.00 $†† -†† 14.0% Even though put options were assigned, the effective price of $6.45 per share was lower than the initial entry price so the option premium has been included in realized returns to reflect this.
1/0/00 AUY MU* AUY MU 9/9/2008 $1.10         $††††† -†† $†† -†† 0.0%
9/16/08 Telecom New Zealand* NZT 10/3/2007 $9.20 $16.61 -44.6% $††††††† 0.93 -39.0% $ 17.31 $0.95 -41.4%
9/18/08 CHK JI* CHK JI 9/16/2008 $1.00 $1.25 -0.6%   -0.6% $†† 1.25 $†† -†† -0.6% Return shown is non-annualized premium return on total contract value (100 shares x strike price).Actual return not measured until contract is closed with actual cash outlay used as investment cost basis.
10/17/08 ANQ VQ (Assigned) ANQ VQ 9/17/2008 $0.90 ASSIGNED 0.0% $†††††††††† -†† ASSIGNED   $†† -†† ASSIGNED (amat) related transaction;Option premium has been deducted from assigned share price.
9/18/08 Devon Energy* DVN 7/26/2007 $105.00 $88.91 18.1% $††††††† 0.48 18.6% $ 74.97 $0.76 41.1%
9/18/08 American Capital Ltd.* ACAS 5/16/2008 $24.30 $29.50 -17.6% $††††††† 1.03 -14.1% $ 29.50 $1.03 -14.1% (acas) related transaction;Option premium has been deducted from assigned share price.
12/22/08 NTE LB* NTE LB 9/18/2008 $0.40         $†† 0.00 $†† -†† 4.0%
10/9/08 NOV VF NOV VF 10/8/2008 $4.10 $1.75 7.8%   7.8% $†† 1.75 $†† -†† 7.8%
10/14/08 CHK WY* CHK WY 10/10/2008 $2.60 $0.40 22.0%   22.0% $†† 0.40 $†† -†† 22.0%
12/4/08 AUY MA* AUY MA 10/15/2008 $1.15 $0.94 4.2%   4.2% $†† 0.94 $†† -†† 4.2%
1/0/00 NQ AD NQ AD 10/16/2008 $0.35           $†† -†† 0.0%
1/0/00 ANQ AQ ANQ AQ 10/20/2008 $0.45           $†† -†† 0.0%
11/4/08 NOV XX NOV XX 10/22/2008 $3.70 $1.05 11.8%   11.8% $†† 1.05 $†† -†† 11.8%
12/22/08 NZG LZ NZG LZ 10/24/2008 $0.05           $†† -†† 2.0%
10/27/08 Rogers Agri. Index* RJA 11/4/2007 $7.17 $10.93 -34.4% $†††††††††† -†† -34.4% $ 10.00 $†† -†† -28.3%
10/27/08 Talisman Energy* TLM 10/17/2008 $8.18 $15.95 -48.7% $†††††††††† -†† -48.7% $ 15.95 $†† -†† -48.7% (tlm) related transaction;Option premium has been deducted from assigned share price.
1/0/00 MFN BB* MFN BB 10/28/2008 $0.35         $††††† -†† $†† -†† 0.0%
11/11/08 SK Telecom* SKM 1/18/2008 $17.48 $24.85 -29.7% $††††††† 0.11 -29.2% $ 24.85 $0.11 -29.2%
11/13/08 American Capital* ACAS 11/11/2008 $6.20 $19.65 -68.4% $†††††††††† -†† -68.4% $ 19.65 $†† -†† -68.4% (acas) related transaction;Option premium has been deducted from assigned share price.
11/11/08 Chesapeake Energy* CHK 1/16/2007 $21.01 $39.20 -46.4% $††††††† 0.30 -45.6% $ 28.00 $0.50 -23.2%
12/5/08 NOV NC NOV NC 11/20/2008 $3.10 $2.60 3.3% $†††††††††† -†† 3.3% $†† 2.60 $†† -†† 3.3%
1/0/00 NTE CU* NTE CU 12/22/2008 $0.25 $0.00 2.5% $†††††††††† -†† 2.5% $†† 0.00 $†† -†† 2.5%
Return on Sold Stocks: -6.6%   -5.3% 5.6%
Disclosure: Author is long all stocks listed except for those under SOLD HOLDINGS. Indices YTD
These figures do not include any frictional costs such as brokerage fees, taxes, etc. Dow Jones -33.8%
Portfolio Return (all securities shown) YTD: -16.5% Nasdaq -40.5%
Portfolio Return but with dividends YTD: -15.1% S & P 500 -38.5%
Cash Balance Available For Investment: 28.7% Wilshire 5000 -38.7%
Russell 2000 -34.8%
2007 Portfolio Results +12.5%
2008 Portfolio Results -15.1% 2008ís IRR was -25%, which is 10 points lower than whatís shown due to the way I accounted for options, basically not marking them until the contract closed out. In 2009, a third party audited my brokerage statements to verify returns and calculated 2008 to be ~ -25%, not the -15% as shown. Iíve since changed my accounting to prevent such a divergence.
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Please note this page details our actual portfolio, warts and all, and will be updated monthly.Changes made after the date shown at the top of the page are not reflected until the end of the month.Also, the portfolio's performance may not be truly reflected as I'm too lazy to devise a system to measure each stock against the market at the time of entry as opposed to YTD. In addition, open option contracts are not marked to market and are not reflected in the returns until exercise/expiration because my scripts can not update them. Finally, the portfolio as shown does not mirror our actual allocation. The stocks are shown here equal-weighted while our portfolio has different weightings as well as multiple buy points for some stocks as we average down. We have listed our initial entry point on this web page but our actual positions may have a lower or higher cost basis and thus our returns may differ substantially, hopefully to the upside!
For more details on how option contracts are booked above, see this post.