Nick MassaMaria SanchezBrandon Krupunich

STUDENT MANAGED FUND

YEAR END REVIEW

High Price earnings

Created a well diversified portfolio—buy and hold Fixed-income and equity instruments

International and domestic Small, mid, large caps

ORIGINAL STRATEGY

24.81%

34.45%

20.11%

20.63%

ORIGINAL HOLDINGS

BDCS

Domestic ETFs

CZA

DTN

QCOM

StocksCBRL

MDSO

VCSHBond ETFs

SCPB

PIDInternational ETFs

TOK

ETF replicates performance of business development companies on NYSE and NASDAQ

ETF performs based on 100 mid capitalization equities

ETF representing top 10 dividend yielding companies in each sector, of 300 largest companies by market value, excluding financials

Technology – Communication Equipment (Large Cap)Services – Restaurant (Mid Cap)

Technology – Healthcare Information Services (Small Cap)

ETF tracks performance of corporate bond indices with short term maturity

ETF tracks performance of US corporate bond market

ETF tracks performance of ADRs & GDRs, which have shown regular annual dividend yield increases ETF replicates MSCI Kokusai Index, invested in developed international economies excluding Japan

8.51% (10/4 ~ 4/30)Started with $40,000, ended with $43,404.40S&P 500 produced 10.11% return

OVERALL PERFORMANCE

Liquidation;$43,404.40

Strategy change

Strategy Implementation$40,000

8.51%

Buy and hold strategy (10/4 ~ 3/27) Our portfolio: 10.72% Vs. S&P 500: 7.00%

BUY AND HOLD PERFORMANCE

10/4: $40,000

3/27: $43,404

ALLOCATION EFFECT

0

10

20

30

40

50

60Our U.S. Equity Portfolio

S&P 500

Start of shiftliquidation

Liquidated our two bond funds

Using Valueline service picked: ANR – Basic Materials GPX – Services BZH – Industrial Goods

PARTIAL STRATEGY SHIFT

Utilized leveraged index ETFs UPRO (3x SP500) UVXY (2x VIX)

“WHAT IF” ANALYSIS

Buy and hold strategy of the original 10 securitiesReturned 12.18% from October 4 th to April 30 th

S&P500 returned 10.09%

Inception Liquidation

CONCLUSION

We are content with our returns considering the change in the market, though we should have stayed with the buy and hold strategy Return to expansionary economics SP500 to outperform many funds

Trading platform Our group expended $1,243.91 fee’s for 38 trades Each transaction cost between $32 and $36 to complete

Expensive considering the lack of web features Possibly lost return on wide spreads and inability to track

equities Recommend IB, E*Trade, TD Ameritrade

Forcasting at 10$ a trade we would have only expended 380 for the same amount of trades

QUESTIONS OR COMMENTS?

FYI (this is not an added slide)  Return (%) Rankings  YTD 1-Year YTD 1-Year

Basic Materials -6.3 1.6 11 11Communication

Services7.0 17.7 9 6

Consumer Cyclical 11.7 28.2 4 2Consumer Defensive 13.1 24.3 2 5

Energy 2.4 5.5 10 10Financial Services 8.9 24.5 6 4

Healthcare 18.4 33.0 1 1Industrials 8.7 17.5 7 7

Real Estate 11.8 26.9 3 3Technology 7.2 10.1 8 9

Utilities 10.7 14.7 5 8

“WHAT IF?” ADIRONDACK FUND

30%

10%

10%

30%

20%

UHT – Fi-nance

TLLP – Basic Ma-terials

AWR – Public Utilities

PBI – Con-sumer Goods

GK – Services

• Buy and Hold• Chosen by High PEG and ROE• Backed by analyst recommendations• Overall return of 29.03% vs. S&P 500’s 10.66%