With the liquidation of the US portfolio almost complete, I thought I look back and summarize the results of the past 2 ¾ years. While this site will still remain up, I will be refocusing my efforts on building up The Asia Report.
Please check it out here.
Since inception in 2011, we have achieved an annualized return of 27.23% and a cumulative return of 93.93%. This compares favorably with the iShares S & P 500 Total Return Index, which achieved an annualized return of 21.54% and a cumulative return of 70.99% over the same time period.
To put that into perspective, an initial investment of $10,000 would have yielded $19,393 by the end of June 2014. A similar investment in the S & P TR index would have yielded $17,099.
The results have been more than satisfactory. However, the advances in market prices have resulted in a dearth of investment opportunities in the US market.
Conversely, the emerging markets look far more attractive. We have liquidated the US equity portfolio not with a view to move into cash, but rather to reinvest where it makes sense for us to do so.
We have on our radar companies listed on the Hong Kong Stock Exchange, the Tokyo Stock Exchange and the Bursa Malaysia. The recent decline in prices has created interesting opportunities with favorable investment characteristics.
To end off, it’s been a pleasure writing to everyone. As the partnership shifts to the emerging markets and deals with investments in illiquid stocks, I will no longer be able to provide readers with portfolio updates.
However, I will be highlighting some individual investments, and providing some case studies in the future.
I look forward to seeing you at my new site, The Asia Report.