[LTC-GLOBAL] LTC-ATF

[Deprived]

What's your plan with S.MG PT?

No pass-through planned to S.MG - I'm not expecting enough market activity to be worth running one.  The S.MG we hold are just for LTC-ATF to make a profit from (we've sold some off at 50%+ profit but aren't really in a rush to sell the rest).

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[ThickAsThieves]

Since you mentioned it, I will likely be offering a S.MG PT sometime soon. I know it won't be popular, but I think it could turn that way eventually.

[Deprived]

Since you mentioned it, I will likely be offering a S.MG PT sometime soon. I know it won't be popular, but I think it could turn that way eventually.

Yeah - I don't expect a lot of trade on S.MG yet but down the road it could well become pretty active.

I'll probably end up doing a pass-through on LTC-Global eventually - but it's low in my priority list unless I get multiple requests for it.  I have no intention, at present, of LTC-ATF moving into running pass-throughs on BTC-denominated platforms.

[Deprived]

WEEKLY REPORT

As usual all figures represent the status as of Sunday (yesterday) evening.




Another good week for the fund with growth of 6.27% before management fee.  Growth would have been higher (just under 9%) except LTC rose significantly vs BTC as BTC fell vs USD.

The 100:1 split went through smoothly and I only needed to change three numbers in my spreadsheet (outstanding shares, authorised shares and HWM).  The spread on the market has tightened and a few shares are already changing hands - so clearly the change has benefitted some current investors (who can sell partial old units) and some new ones (who can actually buy now).

We sold all our Ciphermine - so they don't appear in long-term holdings (which I'd said was likely).  With the release of a 3rd batch of shares I judged it better to divest totally of them rather than end up stuck below a ceiling if the third release failed or was slow to sell out (which appears to be the case).  A significant chunk of our high profits this week and last came from these - expect profits to drop back to more normal levels (my expectation is for weekly profits of 1-3% ignoring exchange-rate impact but that should NOT be taken as any sort of guarantee).

Our LTC-ATF.B2 bond is up for moderator approval on BTC-TC now.  Currently it has 4 YES votes and noone has raised any issues/complaints about it so it will hopefully be approved before long.  That will reduce the cost to us of future capital from 0.6% per week to 0.35% (assuming we can sell at that rate).  As has been previously stated I won't be recalling LTC-ATF.B1 - even though it would likely make financial sense for us to do.  I'd always (honestly) given the impression the bond would run for a long time and do not intend to forcibly change that.  I will, however (assuming LTC-ATF.B2 sells decently) offer buy-back at 100% rather than 99% on it as a small incentive for holders to sell back to the fund if/when they choose to divest.

Initially I'll be selling 50 BTC-worth of LTC-ATF.B2 - which can be used for current activities.  I'll then sell a second batch when our next security (a fractional ASICMINER pass-through on LTC-GLobal) is launched - to ease cash--flow for that.  Further sales will be as and when necessary as usual.

For now I'm holding off on releasing dividends - the recent rise in LTC's price vs BTC is by no means solid : occurring as a reaction to BTC falling vs USD.  Last night we clearly saw that when BTC started to make a recovery LTC lost back some of that ground.  As ever I want to avoid the scenario where I dividend out capital then have to sell more units - I'm firmly convinced that diluting  by selling more units is something ALL investors should want avoided and will remain as cautious as I need to be to keep the risk of that to a minimum.

My website's coming along fine - and is on schedule for public release at the end of this week.  There may still be one more weekly reportd published here before they're moved to the site (it'll take me a bit of time to produce a decent template for the financial details).  Links will still be posted here weekly.

Management Fee : 171 units - sounds a lot until you realise its less than the 2 old units I got last week.
Bid at : 0.575 (we're slightly up since the report was frozen yesterday)

[killerstorm]

Yeah - I don't expect a lot of trade on S.MG yet but down the road it could well become pretty active.

Well, I'm interested in buying early, and I'd rather pay passthrough premium then pay monthly fee on CoinBr (fuck that shit).

[Deprived]

WEEKLY REPORT




Not much to report this week - it was a slow but steady week with no great excitement.  LTC fell vs BTC (as BTC made a bit of a recovery) and we ended with 4.73% growth (before management fee) of which ~2.41% was from trading and the rest due to the exchange-rate movement.

Our initial batch of 5000 LTC-ATF.B2 sold out in an hour and I sold a further 2000 into bids at a bit over face value - as we'll need more before long and it works out cheaper to sell now whilst orders were available and give (some of) the extra back in dividends.

My website's not ready yet - I got a LOT less done this week than I planned to.  Main reason was the start of the Ashes (that's cricket between England and Australia for those who don't know).  I promised myself only to watch the interesting stages - but that turned out to be most of the 5 days.  I'm looking into displaying our accounts live when I get everything done - so you'd be able to check on the status of it at any point in the week.  It would show same information as now, hopefully along with some pie-charts showing how funds were split between sites etc.

Management fee of 131 units will be transferred after posting this.
The fund's own bid is at : .594

[Deprived]

WEEKLY REPORT




Sorry that this report is delayed.  I've had problems with my laptop overheating and slowing right down to a crawl.  I've bought a new one and got nearly everything transferred over to it - only problem has been with moving my copy of Office over to use the Excel spreadsheet.  Think I may have to bite the bullet and just buy a new license - as the existing one has already been used on two computers so won't validate on a third.

Only news of any significance last week was the closure of S.DICE - and hence our pass-through to it.  We made a small profit on the shares we held ourselves, but closure of our pass-through was done without fee (per the contract) so we made (and will make) no profit on the shares held by all our investors.

Profits were slim for the week : 1.33%.  We made a bit more (2.22%) in trading profit but that was cut back by LTC rising vs BTC.

With LTC continuing to stay strong vs BTC and with the closure of S.DICE meaning we have less need of funds to manage our pass-throughs I've decided to pay a dividend of 0.05 LTC per share.  That will be paid out shortly.  NAV/U will still be slightly above what it was after we conducted the share split - and we're still good for supporting the extra bonds I expect to want to sell in the near future.

Management fee of 38 units will be transferred after I post this (and before the dividend is paid).
Bid will be at .555 (reflecting -.05 for the dividend and +.005 for the ~1% we're up so far this week).

[Deprived]

Not sure why, but none of the embedded images in my posts are showing up on here - though they show fine in the LTC-ATF thread on the LTC forums.  Guess it's to do with the stupid anonymising that they add onto links here.

EDIT: If anyone wants to see the reports they show up fine in the LTC forum thread : https://forum.litecoin.net/index.php/topic,657.210.html
Expect the problem will fix itself fairly quickly - it was working fine half an hour ago.

[Deprived]

WEEKLY REPORT

As usual figues represent the fund's status on Sunday.




Good news is I've finally got everything transferred over to the new computer - it's amazing how fast a new computer is when you've been using an old one for a while.

Growth this week was 2.61% -  though 1% of that was due to LTC falling vs BTC.  The bubble in many securities is likely to burst before too long, so I'm having to be a bit careful not to get caught holding in something that's overpriced by 500% when it collapses.  There's no shortage of new IPOs as well - just have to be careful to pick the ones that will actually succeed (which for us means rise in price post-IPO - very few will succeed in the sense of making a profit in the long-term for investors).

I've sold another 8000 LTC-ATF.B2 (this was after Sunday so report doesn't reflect it) and moved most of the raised funds to Havelock where we will now have a presence trading as well.  I may well sell more later in the week once our next security (an Asic-Miner pass-through on LTC-Global) is ready.  I hope to have that ready for moderator approval by the weekend.  As with all pass-throughs there's minimal risk for LTC-ATF in running it - just some extra capital needed to process dividends and handle sales.

I also have some more new securities upcoming that will be run by LTC-ATF (initially two pairs - one set on LTC-Global and the other on BTC-TC).  Those are a bit different and I hope/think they'll be fairly popular (think a mix between a pass-through and DMS - though with nothing to do with mining).  Can't give more information until they're up - to avoid someone else beating me to it.

Website progress has been slow, but now the new computer's all set I'm working back on it again.  Would expect this week's report to be on the forums then subsequent ones on the new website.

Management fee of 74 units will be transferred after this is posted.
Fund's own buyback bid at .57

[thy]

WEEKLY REPORT

As usual figues represent the fund's status on Sunday.




Good news is I've finally got everything transferred over to the new computer - it's amazing how fast a new computer is when you've been using an old one for a while.

Growth this week was 2.61% -  though 1% of that was due to LTC falling vs BTC.  The bubble in many securities is likely to burst before too long, so I'm having to be a bit careful not to get caught holding in something that's overpriced by 500% when it collapses.  There's no shortage of new IPOs as well - just have to be careful to pick the ones that will actually succeed (which for us means rise in price post-IPO - very few will succeed in the sense of making a profit in the long-term for investors).

I've sold another 8000 LTC-ATF.B2 (this was after Sunday so report doesn't reflect it) and moved most of the raised funds to Havelock where we will now have a presence trading as well.  I may well sell more later in the week once our next security (an Asic-Miner pass-through on LTC-Global) is ready.  I hope to have that ready for moderator approval by the weekend.  As with all pass-throughs there's minimal risk for LTC-ATF in running it - just some extra capital needed to process dividends and handle sales.

I also have some more new securities upcoming that will be run by LTC-ATF (initially two pairs - one set on LTC-Global and the other on BTC-TC).  Those are a bit different and I hope/think they'll be fairly popular (think a mix between a pass-through and DMS - though with nothing to do with mining).  Can't give more information until they're up - to avoid someone else beating me to it.

Website progress has been slow, but now the new computer's all set I'm working back on it again.  Would expect this week's report to be on the forums then subsequent ones on the new website.

Management fee of 74 units will be transferred after this is posted.
Fund's own buyback bid at .57

Would you care to explain how the last weeks(31 july repport) result is a profit, as far as i can see it looks like the gross assets value have gone down on both BTC and LTC and that the NAV is down to, and for some reason you don't use the adjusted NAV from previous week as old HWM this week like you always have done in your repports before ?
The value(in LTC) of 823.5702 BTC might be greater this week than 893.7899 BTC was last week thou to pricechange BTC/LTC but that still don't explain why you dont use last weeks NAV in the calculations and that one's still down from last week...

Date                     Gross assets BTC    LTC              old HWM            adj NAV             Profit
 2 july repport              731.8706         24 154.15     0.5148988513    0.5502003063   8,94%? 8,17%
 8 July repport              854.9658         23 881.73     0,55020031        0,58127047      6,27%? 5,64%
15 july repport             854.4514          28 293.09     0,58127047       0,60599474      4,73%? 4,25%
25 july repport             893.7899          27 930.93     0,60599747       0,613322737    1,33%? 1,21%
31 july repport             823.5702          27 636.58     0,56322737 ??   0,57644914      2,61%? 2.34% -7,01%

Why is the old HVM value used in the 31 july repport 0,56322737 instead of 0,613322737(the adj NAV from previous week) and why is the weeks result shown as a profit of 2.34%(2,61% ?) instead of a loss of 7,01% like it would have been if you used the correct? adj NAV like it has been done in all previous repports ?

[liteuser]

Why is the old HVM value used in the 31 july repport 0,56322737 instead of 0,613322737(the adj NAV from previous week) and why is the weeks result shown as a profit of 2.34%(2,61% ?) instead of a loss of 7,01% like it would have been if you used the correct? adj NAV like it has been done in all previous repports ?

A 0.05 dividend was paid ...

[thy]

Oh ok your right i see that 2013-07-25 19:00 0,05 LTC per share, that explains it.

[Deprived]

Oh ok your right i see that 2013-07-25 19:00 0,05 LTC per share, that explains it.

Assume that explains it - after I pay a divend the hwm is reduced by the amount of the dividend.  If it's still unclear let me know.  Can't give an accurate update as not at a computer (on mobile at the pub) but we're up 6 or 7 percent so far this week mainly from flipping the labcoin ipo.

[vandinn]

So what do you guys think, will BTC Growth be a strong competitor to LTC-ATF? Since LTC-ATF is currently traded way above its NAV, is BTC Growth going to be a good alternative for new investors?

[Deprived]

WEEKLY REPORT 4/8/13

This is the rather late report for the status of the fund as at last weekend.  Will be posting this week's immediately afterwards.  it may seem silly me posting two - especially as the contract allows me to post every other week anyway.  However I'm trying to keep weekly snapshots on record for the purpose of tracking past performance.




Growth of 5.7% this week - most of which came from trading (4.88% estimated).  The NAV was higher for part of the week but dropped slightly at the end when LTC recovered some of the ground it had lost vs BTC.

Management fee of 158 units will be transferred.

[Deprived]

Just a note on a small error in the above spreadsheet (it has no impact on results) - the LTC value of Havelock holdings is calculated incorrectly (BTC one which is the one that matters was correct).  The error was noticed and fixed but appears I used an old copy of the report.  Difference is tiny and the value isn't used in any totals - so I'm not going to redo the reports just to correct it (it's fixed in the current week's report which is coming shortly - was just doing last minute double-checking that it was correct and noticed I'd used uncorrected version of last week's).

[Deprived]

WEEKLY REPORT




Much weaker results this week : 2.45% growth but under 1% came from trading with the rest from LTC falling vs BTC.  There's a specific reason for the poor performance.  One of the things I do is trade the spread on a few securities that have a very wide spread.  One of these for quite a while has been Bitpride on Bitfunder (a horrible investment that's a t-shirt seller that raised thousands of BTC at IPO but has had declining sales).  We've done well on it - often flipping shares for 50%+ markups but the price of it finally collapsed after even worse results than usual.

When the price collapsed not only did our existing holdings lose value, but we got more shares dumped into a bid.  I made the call to liquidate our position totally and got rid of the lot at a loss.  We definitely made decent profits overall on it - but when tarding junk securities there's always going to be a risk of taking a hit when confidence in it finally collapses.  That proved to be the case here - not the first time it's happened to us and it definitely won't be the last.  It's a risk we take/price we pay for that particular strategy - which only works on shares which are pretty shit as they tend to be only ones with very wide spreads.  I'm satisfied I made no errors on it - just this week happened to be the one where we gave back a bit of what we'd made on it to get out of it at the end of its useful (to us) life-span )it isn't impossible it'll be worth trading again later - but if so it won't be in the range we were previously trading it in.

We're back above the NAV/U at which I last issued a dividend, however one will NOT be made at present.  Two reasons for this:

1.  We have some new securities coming out that can use more capital.
2.  LTC has fallen vs BTC increasing the percentage of NAV/U that bond-debt represents.  It's in our comfortable zone at present but would rise above my desired target range if we paid a dividend right now.

So there won't be a dividend until we've made a fair bit more growth and/or LTC has risen back a bit vs BTC.

Unfortunately I failed to get our ASICMiner pass-through out to date - I got side-tracked on other things (some RL work then bot testing for DMS).  That security and 4 more new ones (all run by LTC-ATF) will be my main focus in the next few days.  The other 4 in particular are, in my view, likely to attract decent volume and potentially bring in significant new profit for LTC-ATF.

The transfer bot for DMS is now functional - automatically handling transfers of shares for DMS.  It will be updated to also do some work for LTC-ATF - allowing trades of our ASICM passthrough shares for ones on BTC-TC and also, later, allowing trades on the other 4 new assets we'll be running.  Unfortunately the developer won't be able to work on it next week so it'll be a few weeks before it'll do the work for LTC-ATF.  All costs/payments to the developer for his work are being paid by me personally, no fee will be charged to LTC-ATF (or DMS for that matter).

Management fee for this week is a paltry 70 units
The fund's own bid is at .607

[carnitastaco]

hey deprived, how we doing the last few weeks?  Lot of change in LTC/BTC, lots of volatility in a whole bunch of securities recently

[thy]

hey deprived, how we doing the last few weeks?  Lot of change in LTC/BTC, lots of volatility in a whole bunch of securities recently

Yea looks like reports is a bit delayed, 16 days since the last one now so the minimum of a report once every fortnight has not been held this time....

[Deprived]

hey deprived, how we doing the last few weeks?  Lot of change in LTC/BTC, lots of volatility in a whole bunch of securities recently

Will catch up today.  The fall in LTC/BTC has grown NAV/U (expressed in LTC - value has fallen if measured in BTC).  The collapse of many mining securities hasn't touched us - other than making trading profits very slim (not many opportunities to trade profitably in a falling market).  The general volatility has been hard to benefit from when most of it has had no obvious reason.