ALLOCATION DISCLOSURE:
Cash 30.7% of gross assets (15.8% Euro, -4.8% USD, 9.7% AUD, 3.2 % CHF, 3.5% HKD, 2.2% CAN, 1.2% Japanese Yen)
Precious metals 13.4%
Bonds 19.9% (19.2% USD, 0.7% Euro, valued at lower of cost and market)
Rental Real Estate 21.6% (valued at cost)
Equity 14.4%: comprised of,
Argentina 0.45% - Cresud (CRESY) and IRSA (IRS);
Australia 2.9% - Lumacom (LUM.AX), BHP Billiton (BHP.AX), Rio Tinto (RIO.AX);
Canada 0.7% - AgnicoEagle Mines (AEM), Enerplus Trust (ERF), NCE Petrofund (NCN), Pan Am Siler (PAAS), Primewest Energy (PWI)
China/Hong Kong 1.8% - China Mobile (CHL), China National Offshore Oil Co, China Shipping, Hongkong & Shanghai Banking Corp, CK Life, Hutchison Whampoa, Li & Fung, LuJiaZui Development, Petro China, Phoenix TV, Shanghai Industrial, Shangri-la Hotels, Sinopec, and Tom.com;
Europe 0.7% - BP and RD, and Vestas Wind Systems finance.yahoo.com
Japan 0.7% - NTT Docomo (9437), Mitsubishi Estate (8802), Mitsubishi Tokyo Finance (8306);
Pakistan 0.4% - Hub Power (HUPOF) finance.yahoo.com ;
Russia 0.07% - Luk Oil (LUKOY);
South Africa 2.3% (information via sharenet.co.za ) - AAPTY/AMS, AU, DROOY/DUR, GFI, HGMCY/HAR, IMPUY/IMP and SASOY/SOL ;
USA 3.9% - AIG, AMGN, AOL, CD, CMCSK, EPEX, FCX, HGT (finite life), HOFF, INTC, IPG, MRK, MSFT, NEM, PFE, QCOM (0.46%), SJT (finite life), SWC, USU, WMT, XOM and a sliver of this biotech starter set (<0.05% of NAV) - a private equity approach to public listed ventures - recommended by LLCF (DAK):
siliconinvestor.com and
Zimbabwe 0.5% - Zimbabwe Platinum (ZIM trade in Australia, information via home.boom.com.hk or uk.finance.yahoo.com );
I have these not altogether internally consistent option positions:
Short FCX Feb Put 10
Short HGMCY Feb Put 10
Short MO March Put 32.5
Short PTR March Put 20
Short NEM March Put 22.5
Short IPG April Put 10
Short IPG April Call 10
Short NLY April Put 17.5
Short AEM May Put 12.5
Short AEM May Call 12.5
Short HGMCY May Put 12.5
Short FCX May Put 12.5
Short NEM June Put 20
Short NEM June Call 30 covered
Short NEM June Put 30
Short QCOM July Call 37.5 covered
Short QCOM July Put 35
Short AOL July Call 10 covered
Short AOL July Put 10
Short FCX August Call 20 covered
Short FCX August Put 17.5
Short FCX August Call 17.5 covered
Short FCX August Put 15
Short NEM Sept Call 32.5 covered
Short NEM Sept Put 30
Long LEN 2005 Jan Put 30
Long CFC 2005 Jan Put 40
Long PHM 2005 Jan Put 25
I have a Japanese Yen loan amounting to less than 4% of gross asset, with about 50% of loan already converted to USD denominated assets and 50% remaining in Yen currency and Japanese shares.
2003 NAV YTD appreciation is now @ 4.32%. This tally-to-date is conservative, based on always valuing the bonds and real estate at lower of cost and market.
The NAV gains are mostly due to non-USD currencies’ appreciation, physical/paper gold increases, Lumacom surge, Zimbabwe Platinum appreciation, and Argentina real estate stock recovery.
Zigs and Zags since last tally:
Message 18388681
Message 18396696
Message 18415878
Message 18415900
Message 18420139
Message 18440502
Message 18440972
Message 18465553
Message 18468702
Message 18472099
Message 18473813
Message 18477638
Message 18478216
Message 18478324
Message 18483329
Message 18493007
Message 18497908
Message 18499691
Message 18500597
Message 18502928
Message 18504197
Message 18504669
Message 18514660
Message 18552162
Chugs, Jay |
