Marketocracy Portfolio Updated, Beating S&P500 By 10 Percentage Points

My portfolio was started on 1st August 2008. Marketocracy lets you manage a virtual portfolio of $1M in a simulated trading environment, allowing you to track your performance accurately and compare your fund management skills to other investors and professional fund managers. Yes, they do take into account transaction cost as well. If your track record turns out to be one of the best, you could be hired to help manage a real fund at Marketocracy. It's a great place to learn, and a great place to prove your talent. They also have important rules to ensure that you are running an actual investing portfolio and not just sitting on cash:

• No position can exceed 25% of your total portfolio value.
  
• Half your portfolio must be comprised of positions under 10% each.
  
• Your cash position isn't limited by this guideline, although you must be 65% invested

My fund was smartly called SMF, or Salvador Mutual Fund (no, not the foul language acronyms you are thinking). So far so good, although the first couple of months was iffy. SMF fund performance in orange colour.

The main objective of the fund is to beat the S&P 500. For the past 6 months, the S&P 500 has lost 41.5% while my fund has lost just 31.4%. I know its silly to highlight since the fund is still losing money, but thats the quirkiness and beauty of fund management. If you are managing for pension funds, there are usually rules which dictate that you must be at least 60% or 80% invested at all time, and your aim is to beat the index - not to give positive returns or better prevailing interest rate by 300 basis points, but to beat the index. If you can consistently beat the index, you should be golden.

Hence to beat the S&P 500 by 10% over 6 months is a decent thing. I should really try to get back to the buy side... any offers!!??

recent returns
		RETURNS Last Week 4.01% Last Month -13.04% Last 3 Months -6.18% Last 6 Months -31.47% Last 12 Months N/A Last 2 Years N/A Last 3 Years N/A Last 5 Years N/A Since Inception -36.89% (Annualized) -51.83% S&P500 RETURNS Last Week 1.28% Last Month -16.76% Last 3 Months -16.76% Last 6 Months -41.49% Last 12 Months N/A Last 2 Years N/A Last 3 Years N/A Last 5 Years N/A Since Inception -41.55% (Annualized) -57.35%
		RETURNS VS S&P500 Last Week 2.73% Last Month 3.71% Last 3 Months 10.57% Last 6 Months 10.01% Last 12 Months N/A Last 2 Years N/A Last 3 Years N/A Last 5 Years N/A Since Inception 4.66% (Annualized) 5.52%

alpha/beta vs. S&P500
		Alpha 16.03% Beta 1.04 R-Squared 0.81

turnover
		Last Month 37.48% Last 3 Months 53.71% Last 6 Months 69.00%

ACTG	$2.85	9.80%
BAC	$4.93	7.81%
C	$1.54	5.03%
DRYS	$4.18	14.18%
EWJ	$7.24	9.18%

FXI	$25.10	7.96%
GCH	$7.18	3.41%
NFX	$20.80	8.24%
V	$51.37	8.14%
YHOO	$13.39	10.40%

p/s photos: Andrea Fonseka