Price History Chart (courtesy KaiGee)
First the numbers: Last week was one of consolidation, after two weeks of solid increases, particularly for our current releases. We made a small profit of $1.27 per share but we are still comfortably ahead of our $3.00 per share average weekly gain in the second quarter. We are now up 540% since IPO.
Investors who have followed the fund closely will be aware of how our strategy has evolved from simple day trading of smaller stocks for incremental profit toward a long-term strategy of major releases. Of course we will still day trade news events on Fox related properties but our emphasis is now to maximise profits with the minimum of costs.
In the buy and hold category we are fully invested in current releases: ‘Alvin and the Chipmunks: The Road Chip’ (ALVN4), ‘Joy’ (JOY) and ‘The Revenant’ (REVEN), as well as‘Kung Fu Panda 3’ (PAND3) which opens wide on Jan 29th.
We are also long on ‘Gambit’ (GAMBI) which is slated for release in October, as well as ‘Kingsman: The Secret Service 2’ (KTSS2) and ‘Alien:Covenant aka Prometheus 2’ (PRME2), all of which are significantly undervalued.
When funds become available we will be looking to invest in a couple of summer blockbusters as well as tracking other developing projects - more of which later.
On the ‘short’ side we are betting that ‘The Clan’ (TCLAN) disappears without a trace in January and ‘Eddie the Eagle’ (EDEGL) underperforms when it is released in February. Also that there is significant mileage in continuing to short the development projects ‘Die Hard: Year One’ (DIEH6); ‘Hidden Figures’ (HIDNF); ‘Shadows’ (MSHDW) and ‘The New Mutants (NMUTN), at least until there is any news that they are making meaningful progress.
One absentee from our portfolio is ‘Deadpool’ (DEADP) which we bought at $93.85 and sold at $122.04. Although I anticipate that we will buy back in after it has fallen back to a level of ‘fair value’.
happy hunting,
hyper