dec09 update

For the month of December, our portfolio was up 6.34% compared to 2.81% of S&P500. The portfolio outperformed the S&P500 by 3.53%.

LMIA, KND were the biggest gainers with over 24% gain. AIR was up about 23%. AMN, our largest holding,  was up 11% along with OME. December was a good month for almost all the other stocks. Only OSIP and BAC were down significantly. OSIP lost 6.84% and BAC was down 4.98%.

In our October update, we mentioned that we started a position on ACET at $5.44. It kept falling and in the beginning of the month, it was trading below $5. Therefore, we doubled our position and now the average price for ACET is $5.21. This purchase has brought our cash position down to 10%. Although we like to have a little more cash than that, we did not want to pass on ACET. It now makes up 8.92% of our portfolio. AMN is still our largest holding with 11% of our total asset.

Partnership NAV for the month ending December was $10.1277.