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Strategies & Market Trends : Graham/Klarman Value Investing

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From: paulelgin

2/25/2013 2:27:47 PM

1 Recommendation of 27

Oceanstone Fund, managed by James J. Wang, filed its semi-annual report with the SEC last week. The fund is currently over 83% in cash, as Wang states:

"Recently, most of the Fund’s assets have been in cash, because the Fund has not been able to find enough undervalued stocks."

Wang has demonstrated a track record as a good market-timer, as well as someone talented in uncovering value. We would all be wise to take note of his current position.

Wang's positions (as of 12/31/2012) were:

Ford - 6.46%
Rite Aid Corp - 4.52%
Microsoft Corp - 2.66%
Dell, Inc - 1.69%
Xinyuan Real Estate Co., Ltd - 1.43%
Cash/short-term investments - 83.25%

His annual returns are as follows:
2009 - 264.38%
2010 - 30.55%
2011 - 0.88%
2012 - 22.35%
2013 (YTD) - 2.09%

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