Sunday, March 28, 2010

Moominvalley February 2010 Report

These reports are now going to come about a month after the close of the month, because only then do we have reports from all funds. As usual, everything is in USD unless otherwise stated. The monthly income/expenditure report follows:

Our spending was a bit above the low end at $4,262 due to car expenses (registration and depreciation - there has been no depreciation for a about a year). There were moderately positive - the rate of return in USD terms was 2.14% vs. 1.31% for the MSCI World Index and 3.10% for the S&P 500. In AUD terms it was 1.16% as the Aussie Dollar rose against the US Dollar. The only asset class that lost this month were hedge funds. There were no big shifts in allocation. Net worth reached USD 409k (AUD 457k) an increase of $12k.

Leverage continued to decline. Loans are only 8.5% of net worth now and total leverage including leverage embedded within investments fell to 36.7% relative to net worth. The peak levels we hit were 90% total leverage in August 2008 and 38% loans to net worth in July 2008.

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