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Aalok Devkota

Data Analyst

  • Dec 10, 2014
Investment Strategy

The fund's goal is to outperform the market both in absolute and relative basis.
We agree with Mr. Buffett’s view regarding diversification; "Diversification is protection against ignorance. It makes little sense if you know what you are doing."
We first identify the current trend using a proprietary macro model that analyzes credit market using 90 Day Euro Futures, global bonds, emerging market bonds, corporate bonds, high yield bonds, various ETFs and few individual stocks. Credit markets have been able to forecast each market turn in the past 30 years (usually months in advance).
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We will hold approximately 13 - 20 stocks during uptrends and may hold 4 -10 stocks during downtrends.
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We like growth stocks in uptrends and mature consumer staples in downtrends. Additionally, we may use inverse-ETFs during downtrends or to hedge our positions.
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In our historical testing we have noticed that close to 50% of the breakouts fail thus we have strict stop-loss rules and our initial portfolio weights are determined so that under normal conditions we never lose more than 2% on our initial position.
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We may average up on a promising stock but WE NEVER AVERAGE DOWN.
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All the stocks that we own must be traded in one of the US exchanges (ADRs are allowed).
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Our initial position will not be more than 10% of the portfolio. No single position can be above 20% of the portfolio at any time.
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We believe stock prices follow companies' earnings, and those companies that can deliver durable multiyear earnings growth provide attractive investment opportunities.
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Quality of earnings is very important for us, so the companies need to have significant earnings in cash vs. receivables.
·         As a result, our investment approach seeks firms we believe are poised for sustained, above-average earnings growth that is not accurately reflected in the stocks' current valuation. ·        
We emphasize companies that have competent/honest management team (a must), are leaders in their industry with a strong competitive position, high returns on capital and solid free-cash-flow generation.
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A stock is sold if the company’s fundamentals decline, the valuation becomes excessive, or the position becomes too large. If a company and the stock are performing as expected our holding period is forever.
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Funds
(AMF) adevkota's Mutual Fund
MODEL INCEPTION (12/10/2014) AVG. ANNUAL RETURN S&P TOTAL RETURN Actions
3+ YRS 23.01% 10.56% View Fund Stats Track Fund
RETURN PERIOD (As Of: 03/31/2018) AVG. ANNUAL RETURN S&P TOTAL RETURN ACHIEVEMENTS
3 YRS 19.67% 11.16% Beat the 75th percentile of mutual funds over 3 years.  
1 YR 24.80% 15.43% Beat the 75th percentile of mutual funds over 1 year.  
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Achievements
  • AMF Beat the 75th percentile of mutual funds over 3 years.
    Mar 31, 2018
  • AMF Beat the 75th percentile of mutual funds over 1 year.
    Mar 31, 2018
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