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[FOXX] Fox Studio Fund week 3 report.
This has been a frustrating week for the fund. If you click on the above link you can pull up the historic price history (courtesy of KaiGee) and clicking on the ‘show all’ button on the left hand chart then allows a day to day analysis of our performance. To revert back simply refresh the page. As you can clearly see we were on a steady upward trajectory for the first two weeks culminating in FOXX being the top fund in both percentage and dollar terms. It is of course too early to predict the likely outcome for the fund as there will be many ups and downs over the course of the year but I was aware when I was allocated Fox that it would not be an easy ride.
Many of the studio’s projects will not reach any level of meaningful development before we delist and others on the near horizon have complexities that will limit any upside potential. However I can assure investors that, like all good card players, I will ensure we know when to fold and when to go ‘all in’. The past week has been an example of this, watching from the sidelines while others scoop up the big pots. Kudos to Franklyn Street (UNIVX) and Qix (LGFX), who have played their hands very well, less so some of the other managers of Studio-based funds who appear to be hibernating - particularly those managing funds I had requested!
Today sees the long awaited release of ‘The Martian’, Ridley Scott’s critically acclaimed Space-based adventure flick. Is it just me or are we in danger of burnout in this particular genre? I’m not sure that life outside of Earth’s atmosphere always has to be so depressing: with dangerous aliens, unreliable spaceships, catastrophic events and now people getting abandoned on a hostile planet. We may as well just paraphrase the whole genre as “ In Space everything is just grim”. It’s no surprise that ‘Guardians of the Galaxy’ was such a breakout hit - hey for the first time since ‘Dark Star’ somebody actually looked like they were having fun out there.
At the time of writing there is no conclusive evidence as to how successful The Martian will be so we have taken a position that its share price reflects the upper end of box office potential. There has been much talk of breaking records set by ‘Gravity’ but considering the lack of IMAX and 3D revenues this weekend I can’t see it. Needless to say by the halt we will be on the right side of the trade.
The other release on our slate this weekend is ‘He Named Me Malala’ which will be opening in a handful of theatres in New York & LA. Frankly I don’t see this documentary about a Pakistani schoolgirl, who came to prominence after getting shot in the head by the Taliban, expanding much further. Box office potential is severely limited.
We also have an IPO ‘The Other Side of the Door’ going live this morning but the less I say about that the better ;)
Happy hunting,
hyper
Tag(s): FOXX
