Академический Документы
Профессиональный Документы
Культура Документы
$350,000.00
S&P 500
$300,000.00
$200,000.00
$150,000.00
$100,000.00
$50,000.00
$0.00
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Aquamarine Fund
Cumulative Return (Net of Fees Since Inception Sep, 1997)
200%
150%
100%
50%
0%
3
Year Fund S&P 500
2010 4.3% -‐5.9%
2009 39.3% 23.5%
2008 -‐46.7% -‐38.5%
2007 17.0% 3.5%
2006 37.1% 13.6%
2005 7.2% 3.0%
2004 11.2% 9.0%
2003 29.5% 26.4%
2002 -‐1.6% -‐23.4%
2001 1.9% -‐13.0%
2000 21.4% -‐10.1%
1999 -‐6.7% 19.5%
1998 26.1% 33.6%
1997 2.5%^ 5.5%^
Investment Performance
(As of May 19, 2009 net of fees since inception ʹ Sep 1997
Source Citibank
Steel China Iron Ore Fines cfr
main China port $/tonne
London Mining
18
0RRG\¶V
Value US$
Allocation of Ideas Total
mm
Best of Breed 41.55 50%
Global Commodities 9.54 11%
Global For Profit
6.14 7%
Universities
Other 19.04 23%
Cash 7.23 9%
Total 83.5 100%
Approx. 25 positions.
New positions enter the portfolio at 2-5% of capital
Q&A
Danke vielmals
Auf widerluege
En guete!
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