PFG Year End Performance
Implied Vol 14.08%
Watermark Leverage 16.8
Average Leverage 4
PFG Year-End Management note
We are still very early in performance meaning anything to actually project, since September however we have learned a few valuable lessons.
2012 Themes
1. We continue to see value in Web Security Stocks and out of favor names
Performance
Web Basket + 11%
Out of Favor -13.5%
2. Hold financial upside calls for an Obama failure
3. Systematic Algo VIX Iron Condor Trading - Cheap Tail Hedge for a short vol portfolio
4. Enter into short vol trades on market fear
Implied Vol 14.08%
Watermark Leverage 16.8
Average Leverage 4
PFG Year-End Management note
We are still very early in performance meaning anything to actually project, since September however we have learned a few valuable lessons.
- Day Trading is very stressful and best left to machines/systematic emotionless folks
- Taking money off the table, entering trades should be done in thirds, no more, no less
- Risk management, over analysis of positions does payoff at the end in profit maximization.
- Staying focused on your thesis, challenging your book everyday when offside by flipping it around and asking “what am i rooting for?” Don’t ask yourself why your positions are losing, rather why the opposite book to yours is winning
- No way to remove emotions of trading unless you can allow a computer to trade your money and walk away.
2012 Themes
1. We continue to see value in Web Security Stocks and out of favor names
Performance
Web Basket + 11%
Out of Favor -13.5%
2. Hold financial upside calls for an Obama failure
3. Systematic Algo VIX Iron Condor Trading - Cheap Tail Hedge for a short vol portfolio
4. Enter into short vol trades on market fear
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