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Quarterly Performance Review - Q2 2017

David Krejca profile picture
David Krejca


  • As I regularly research and present interesting investment ideas, I have decided to compose a brief performance review of my model research portfolio every quarter from now on.
  • Through this exercise, I want to build a credible track record of managing funds according to my investment philosophy and selected research ideas published here on Seeking Alpha.
  • Besides the summary statistics, every performance evaluation will be supplemented with key highlights of the model research portfolio holdings and events.

Dear readers and subscribers,

As in the previous quarter, I would like to start by expressing my sincere gratitude for your continued trust and interest in my research articles on various equity investment opportunities across the globe. During the second quarter of 2017, I received several interesting messages, and my Seeking Alpha profile page welcomed a significant number of new followers. This is a very encouraging feedback, which keeps me motivated to continue sharing interesting insights and keeping you updated on the progress my model research portfolio.

My Investment Philosophy

Continuously in the process of learning, I strive to develop an investment philosophy and establish processes that can last for decades. Although most of my research pieces and investments fall into the category of growth at a reasonable price, my overall investment philosophy can currently be best described as equity long/short focus investing.

Q2/2017 Summary Statistics

Now to the numbers. As measured by Interactive Brokers Group, the time-weighted return of my model research portfolio has reached a little over 19 percent in the second quarter of 2017. To put this into perspective, the predefined benchmarks - S&P 500 Index, the iShares MSCI EAFE ETF (EFA) and the Vanguard Total World Stock ETF (VT) - added 3.09, 6.38 and 4.25 percent respectively. Even though the portfolio's risk-return characteristics are significantly skewed in favor of maximum capital appreciation over the long term, the portfolio surprisingly did not end up as the loser in terms of risk-adjusted performance as was the case in the previous quarter. The equity curve and precise portfolio risk statistics for the second quarter of 2017 are captured in the outputs below:

As of June 30, 2017, the largest proportion of the model research portfolio's funds has been allocated to shares of the companies domiciled in North America (66.4%) and Asia (24.6%), while Europe accounted

This article was written by

David Krejca profile picture
Research analyst, individual investor. Queen Mary University of London alumnus. Successfully passed Level I of the CFA Program (June 2016). Seeking growth-at-a-reasonable-price (GARP), income and profitable growth opportunities regardless of geography, industry and market cap. Value, recent IPOs and high-growth companies. All articles are my opinions and do not constitute investment recommendations or advice.

Analyst’s Disclosure: I am/we are long TSLA, BYDDF, PILBF, GALXF, ECSIF, KATFF, LACDF, VWDRY, AMZN, GOOG, TCEHY, BABA. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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