No news is good(-ish) news

It's been a while sonce the last post, mainly because there hasn't been much to post about - the fund is making reasonable, but not specatcular progress, as a result it has slipped from the 1% a day target.  This always seems to happen near a milestone for me (in this case making the first H$10M), I hover around just under the milestone, but once the barrier has been breached things pick up quickly again.

Maybe I should go away more often!

Coming back to the fund after a week and a half, I was dreading what had happened to it.  I was actually pleasantly surprised, nothing dramatic, but a decent steady increase in value.

All that gives a pretty reasonable graph for March, after a very bumpy start:

 And for the first week of April:

Week Percentage Gain:                +5.45%

Performane againgst 1% per day:  +H$580,000

 

Interesting day

Yesterday was interesting, I expected HGAME to hit it's low point whilst I was sleeping Monday night, so I set a limit order - I was right, but the nadir wasn't as low as I thought it would be, so it had already recovered quite a bit by the time I woke.  I expected it to come down again, but it kept going up and up - I had to hold my nerve as I couldn't understand why people were buying it at over H$400 - where was the profit?  Thankfully it started coming down again and I managed to finish with nearly a 1% profit on the day (thanks to the star bonds).  

I am going to be on holiday next week, so I will be shifting to some longer term investments and setting up limit orders to cash out the OMARS star bonds.

Weekly Update

Last Week               +15%

Month to Date               +27.61%

Progress against 1% per day = +H$1.25M

HGAME has really helped (obviously), so once it has dropped over the next few days I've got a challenge to keep up this progress.

If you don't ask you don't get

Having learnt my lesson yesterday, I asked whether the fund should be able to invest in star bonds (I was always taught, if you don't ask you don't get) - quite prepared for the answer to be that the description can't be changed after IPO - but the answer was yes.  So, after the dust has settled with HGAME over the weekend, there are a few OMARS and HGAME bonds that are looking attractive.

On a side note - I set myself the (possibly foolish) challenge of averaging 1% a day gain on the fund.  The poor start put a bit of a dent in that, but as of yesterday the fund was only H$270,000 off the pace (a week ago it was over 2 million off).

Crunch Time

After a nice few days where HGAME nicely increased the fund value, it's time to do a bit of work.  I've cashed in the OW as this had reached a value that was roughly where I thought the file would open and was starting to drop again.  The main stock is starting to drop now, but I think there is still profit to be made there.

Another lesson learnt - make sure you get your fund description correct to maximise the available stocks and bonds you can invest in.  I spent too much time trying to specify how to differentiate between Sci-Fi and fantasy, that I didn't notice that this was the only fund that didn't include a clause around investing in star bonds that are adjusting for Sci-Fi movies.  Doh!  

Weekly Update

Last Week     +14%

Month to date+4.76%

Progress against 1% per day = -H$1.78M

After a rocky start, things have been moving in a positive direction.  The fund got back to the starting point over the weekend and should make it's first million this week.