General Managers Report to Investment Committee

On Wednesday April 15th SIMM General Managers Dave Abriatis and Mark Larry reported to the SBU Investment Committee via conference call. Discussed was the status of the portion of the endowment fund managed by SIMM, updates on the class, investment strategies and some changes SIMM would like to make.

The Committee agreed to consider possibly switching SIMM's portion of the endowment account from the Bank of NY Mellon to an online platform, such as E-Trade or ThinkorSwim.

The General Mangers found the conference call very beneficial and a good opportunity to convey information to the Investment Committee. SIMM is looking forward to further discussions with the Investment Committee in the near future.

Goldman Sachs Raises $5 Billion in Sale to Repay TARP Funds - Bloomberg.com

Goldman Sachs Raises $5 Billion in Sale to Repay TARP Funds - Bloomberg.com:

"Goldman Sachs Group Inc., buoyed by better-than-expected earnings and a 54 percent gain in its stock price, raised $5 billion in a share sale to help repay $10 billion in government rescue funds.

The bank said today it sold 40.65 million shares at $123 each, 5.5 percent less than yesterday’s closing price of $130.15. The price was exactly the same level at which the bank last sold shares in September. Until last week, the shares hadn’t closed above $123 since Oct. 6.

Chief Executive Officer Lloyd Blankfein, 54, wants to refund money received from the U.S. Treasury’s Troubled Asset Relief Program in October to run his bank, which set a Wall Street pay record in 2007, without any limits on compensation."

I should put a disclaimer here that SIMM does own Goldman.

Performance Update

As of April 8th 2009 SIMM's E-Trade account has outperformed it's benchmark by 4.73% YTD. The portfolio is down -.28%, which is much better than -5.01% that the benchmark is down.

Check back soon for an update on performance.

Restarting the SIMM Blog

It has been a while, but we will be restarting this blog.

The two new authors will be Mark Larry and David Abriatis who are our General Managers this year.

Stay tuned for more posts!

List of Inverse ETFs (Short ETFs / Bear ETFs) » Trader Mike

Here are the short ETF's we were talking about...
List of Inverse ETFs (Short ETFs / Bear ETFs) » Trader Mike:

"Short & UltraShort MarketCap ETFs:
ETF Name Ticker Benchmark Index
Short QQQ PSQ Nasdaq-100
Short Dow 30 DOG DJIA
Short S&P 500 SH S&P 500
Short MidCap400 MYY S&P MidCap 400
Short SmallCap600 SBB S&P SmallCap 600
Short Russell2000 RWM Russell 2000
UltraShort QQQ QID Nasdaq-100
UltraShort Dow 30 DXD DJIA
UltraShort S&P 500 SDS S&P 500
UltraShort MidCap400 MZZ S&P MidCap 400
UltraShort SmallCap600 SDD S&P SmallCap 600
UltraShort Russell2000 TWM Russell 2000

UltraShort Style:"

S&P's Buffett Stock Screen

S&P's Buffett Stock Screen:

"Standard & Poor's Portfolio Services analyst David Braverman put together a stock screen that picks companies using criteria similar to those that fit the legendary investor Warren Buffett's growth-oriented style"

C Chart - Yahoo! Finance

Losing a little is better than losing a lot. Check this chart out on what has happened since we traded Bank of America for Deutsche Bank.

C Chart - Yahoo! Finance--