Mr. Market’s Wild Ride – February 2017 Financial Update

The following financial update for February 2017 covers all performance and happenings from the month of January, and is based on the latest valuation date of 2/1/2017.

After a disappointing downward slide through the end of 2016, the team was ready to regroup and hit the ground running in 2017. And sprint straight to the top we did! Until we fell off on the other side. January produced a roller coaster of prices and emotions, all to leave us basically where we started.

Key Metrics

SFE Share PriceMoM Change in PricePortfolio ValueCashOverall Return


2017 Performance to Date

Slightly lower on the month. Not exactly how we’d want to kick off 2017. However, this chart really does not do the month of January justice. Our portfolio was up as high as 9.25% in the middle of the month, before crashing back down.

That’s how you leave money on the table. Sigh…

Transactions in the Period

DateTransaction TypeDescriptionAmount
1/25/2017DepositMember Contributions$200
1/26/2017InterestInterest on Cash Balance$0.02

Nothing going on here…

Chart(s) of the Month

For all of this talk of wild markets and crazy swings, the S&P 500 looked to produce relatively stable growth in January. The index was dead flat most of the month, before jumping up and then settling into a 1% change. So where is the volatility in our portfolio?

Republic freakin Airways.

Yes, Republic Airways, the darling of our portfolio. After making an incredibly risky purchase of the bankrupt jet operator for $0.90 a share, we watched in horror as the stock price tumbled and fell and dropped some more. By the end of December and early January, RJETQ was trading for a mere 6 cents. This stock was dead in the water, and all but written off…

Then, in one of the greatest and most unexpected rallies of the new year, RJETQ triumphantly rose from the ashes, climbing 10X in a matter of days, before falling back down to about $0.25 a share.

We joked about buying more on the way up, then scrambled to try to find any semblance of logic behind the rebound. Nothing. A mysterious dead cat bounce. We failed to capitalize on the price jump, and got taken for a ride with little to show for it.

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