Another very good
month, returning +16.83%.
My turnover for the month was the
highest ever, yet my maximum
leverage never exceeded about 4
times.
Looking at the equity curve in
relation to the two daily % return
charts you can clearly see that my
daily volatility is much higher when
things are going well.
This month my daily volatility rose
to around +/- 1.5 or 2%, although
looking back to earlier months this
figure has been closer to +/- 3 or
4%. From my
perspective this means there is
'plenty more fuel in the tank', but
it's an area one can only go if
things are really firing.
All good and exciting stuff!
Otherwise, it's been a very
interesting month. On
the funds management side, we have
just commenced looking for our first
significant tranche of managed
account capital, and to this end are now on a
number of the significant hedge fund
databases. In
addition, I never seem to run out of
programming tasks!