SANDSTORM: - A Collective Investment Vehicle for BTC. -

[Smidge]

you should do think in the long term.
lost xx% THIS week? and gain next week - no?? what about next month? or year??
be more patient and give josh a try to do main job and not waste the time trolling here.

besides it seems to me that some subjects are interested for detailed "updates" everyday (no, best - hourly!) to peep on josh's strategies
this is his weapon, and he's not obligated to tell the world about each and every aspect of it.
nevertheless - please write right here YOUR detailed strategies FIRST, then ask from someone else the same.

guys, that's a trust.
there is no evidence for josh's bad intentions, obviously.
i bought small amount of shares and getting some dividends for that.
the overpricing of shares is another issue and not josh's merit. also not directly...
weekly reports are fine too - maybe this can be fine-tuned in the future, but this is not an excuse and reason to disallow him to use his own "capital" as needed.

be more polite.
we're all coming from nowhere once.
if that's the main reason - do not trust those people "from nowhere" (first) and do not yammer (then).
it's YOUR choice to risk, and risk is not the same as scam - look for difference.

Hi felente,

I was pointing out that the funds NAV is down dramatically (and 23.36% is dramatic imho), with noone mentioning it. There is no point in having a fund manager collecting a management fee when there are no actions taken whatsoever. He even describes the fund as performing quite well. This has nothing to do with trolling, but with protecting shareholder value.

@Josh Btw, you still have an open order for 500 shares that we received no incoming coins for.

[felente]

...my blah [shortened]...

Hi felente,

I was pointing out that ...

@Smidge

my reasoning was in general, not meant especially you.
but.
after i wrote here i found one less polite post by josh at your fund's thread (not qouting it here)

so, no comments by me more, not yet. i'm just logged in and not read what's up in the world... ehm... forum

[jmutch]

Weekly Report.

The virtual securities markets have shown a general decline over the past two weeks which has negatively impacted Sandstorms long positions. This shows a grim outlook when analysing Sandstorms week to week NAV. However, The way I operate Sandstorm somewhat mitigates the risk of a general decline. Small declines in the market do not affect Sandstorms ability to achieve profit.

For example Sandstorm could have realised the profits from the 2.5BTC ASICminer shares a long time ago. Holding onto these shares at this purchase point acts as a buffer. Keep in mind the long term strategies employed by Sandstorm that allow for dips in the market.

On a brighter side, Friedcat just announced news regarding hardware sales. I believe this may start a upward trend in ASICminer. Sandstorm purchased more shares based off this news.

I took part in some old style intra-weekly trading of activemining units which overall turned a small profit.

An email proposing changes to the Sandstorm prospectus was sent to a vote via email. The changes were to address some of Korbmans suggestions/concerns. All major shareholders that responded voted YES. This correlated with a agreeing vote of at least 72%. Therefore, the changes will be implemented.

Happy Trading!


Profits
.49 BTC selling Labcoin Shares
.445 BTCtrading Activeminer shares

.590 BTC ASICminer Dividends
.018 BTC Cognitive Dividends
.038 BTC bASIC Dividends
.017 BTC ActiveMining Dividends


Total =BTC 1.598(1.598BTC to dividends)

Dividends
1.598/100000 = .00001598 per share

Last weeks assets

Assets
10 ASICminer direct shares (2.5)
6 ASICminer-PT shares (2.48)
4 ASICminer-PT shares(4.19)

4000 Labcoin Shares(.001)
10 Cognitive Shares (.28)
100 RentalStarter shares (.0149)
15 bASIC shares (.27)
15 bASIC shares (.41)
3000 Active Miner shares (.0025)

35.87 BTC

Assets
10 ASICminer direct shares (2.5)
6 ASICminer-PT shares (2.48)
4 ASICminer-PT shares(4.19)
4 ASICminer-PT shares(3.85)
4 ASICminer-PT shares(3.81)

3000 Labcoin Shares(.001)
10 Cognitive Shares (.28)
100 RentalStarter shares (.0149)
15 bASIC shares (.27)
15 bASIC shares (.41)
3000 Active Miner shares (.0025)

6.31 BTC

[narayan]

Still horribly managed.

[jmutch]

Still horribly managed.

Do you have any changes that you would suggest to the way I manage Sandstorm?

[narayan]

Still horribly managed.

Do you have any changes that you would suggest to the way I manage Sandstorm?

Yes, by providing more transparency for starters. I have to manually calculate your NAV. This is absolutely unacceptable for an "investment vehicle".

[BitHub]

Still horribly managed.

Do you have any changes that you would suggest to the way I manage Sandstorm?

Start expanding SandStorm as a company and hire another trader or something or analysis.

pretty disappointing divs brah.



What are the plans for SandStorm from now till end of the year to expand...Also can you layout some sort of blue print for next year?

[jmutch]

Still horribly managed.

Do you have any changes that you would suggest to the way I manage Sandstorm?

Yes, by providing more transparency for starters. I have to manually calculate your NAV. This is absolutely unacceptable for an "investment vehicle".

Still horribly managed.

Do you have any changes that you would suggest to the way I manage Sandstorm?

Yes, by providing more transparency for starters. I have to manually calculate your NAV. This is absolutely unacceptable for an "investment vehicle".

OK good suggestion. I'll include NAV in the weekly reports from now on. 

Still horribly managed.

Do you have any changes that you would suggest to the way I manage Sandstorm?

Start expanding SandStorm as a company and hire another trader or something or analysis.

pretty disappointing divs brah.



What are the plans for SandStorm from now till end of the year to expand...Also can you layout some sort of blue print for next year?

The divs were still 160% what is indicated as an aim in the prospectus. Compared to previous weeks; yes disappointing.

There is no way sandstorm could afford any more overheads.  I'm definitely looking at ways to expand the fund though in the future. The public will remain informed to any changes.

[xaviarlol]

Josh why are your weekly reports so... uninformative? They mask virtually every important headline figure. Just show the total NAV, the total profit/loss and the dividend.

I was kind of joking before when I said that you probably do it to mask the bad performance, but now I'm actually thinking this is indeed the case, because nothing else can explain such terrible reporting.

Also, the bitcoin market isn't the problem, your assets all being in sh*tty overvalued mining companies/PMB's is the problem. Funds are supposed to be diverse, and you pretty much have every coin in some kind of mining security. My fund actually made a good profit in the last few weeks, during the "decline", so it's not completely true that the market is to blame for sandstorms big losses.

[Peter Lambert]

Also, the bitcoin market isn't the problem, your assets all being in sh*tty overvalued mining companies/PMB's is the problem. Funds are supposed to be diverse, and you pretty much have every coin in some kind of mining security. My fund actually made a good profit in the last few weeks, during the "decline", so it's not completely true that the market is to blame for sandstorms big losses.

He does have some RentalStarter, and they are up about 50% from where he bought it, but the tiny amount invested there is not enough to offset all the mining assets.

[jmutch]

Josh why are your weekly reports so... uninformative? They mask virtually every important headline figure. Just show the total NAV, the total profit/loss and the dividend.

I was kind of joking before when I said that you probably do it to mask the bad performance, but now I'm actually thinking this is indeed the case, because nothing else can explain such terrible reporting.

Also, the bitcoin market isn't the problem, your assets all being in sh*tty overvalued mining companies/PMB's is the problem. Funds are supposed to be diverse, and you pretty much have every coin in some kind of mining security. My fund actually made a good profit in the last few weeks, during the "decline", so it's not completely true that the market is to blame for sandstorms big losses.

Lol what is the PMB I'm investing in?
Never have never will

Lol asicminer and basic are shitty mining company?
I'd have to disagree with you there

Your comments do make me laugh a bit.

[BitHub]

I would like to request screen shots of some trading history since you started.

I think this is a very reasonable request for shareholders and will give us a better understanding.

I would still like to know what's sandstorms future plans, is this going to be a company or just run from your bedroom for a few years?

At least give some sort of plan you have from now till end of year.

[jmutch]

I'm looking at your listing on BTC-TC and the thread here, and I have several questions and comments:

First, I'm a little confused about your listing on BTC-TC. From this thread and your financials, it looks like your fund is already established. Are you selling more shares? If so, then how can you sell the shares at 0.001 BTC when they are apparently not worth that amount. It seems like someone, either the new shareholder or the current shareholder, is going to lose money.

The details on the btct listing are the original prospectus from when I was first looking for an exchange. It has been locked until now. Burnside has unlocked this listing. I thought it would be a waste of 5BTC to simply delete the listing

Sandstorm has finished selling the IPO. No more shares will be offered at .001. Sandstorm has been happily trading at Havelock for the last month or so.

• How do you make money running this fund? You don't list any fees.

I currently make very little from operating this fund. I do it because I enjoy doing it more than anything. Although this PR stuff is starting to get time consuming. I Make money through the dividends( i own 40,000 units). If I can manage to increase the value of the sandstorm units I see this as a financial incentive.

• Your financials spreadsheet is confusing and it lacks important information. If anything, you need to split it into two: Asset/Liabilities and Income. Combining them like you do makes it hard to read. Also, it seems to list some assets, but not all.

Thanks for the usefull feedback

• The list of assets in your report is confusing. For example, why do you list some securities twice? Are they on different exchanges? You list a BTC amount. Is this the "carryover fund"?

The amount next the assets are the price at which they were purchased. I purchased the same assets at different price points.

• It is necessary to state the NAV, and details about its computation, in the weekly report. There is not enough information in the report for a shareholder to calculate it.

There is enough info to calculate NAV. As indicated previously, this will be done for you in subsequent reports
[/list]

weekly dividends of at least 1% of the capital gathered from public offerings. ... Weekly profits exceeding 1% of the capital from public offerings will be divided into carryover funds and dividends.

• How do you determine the dividend amount? The first says that dividends are at least 1% and the second seems to say that dividends are at most 1%, though it is not clear.

Dividends come from profits from trades and other dividends. Anything above 1BTC(1%) can be divided into the carryover or further dividends.

• What happens the the portion of the profits that doesn't exceed 1%?
• How are the profits exceeding 1% split?

this has been addressed

[/list]

all remaining assets from the last weekly report will be liquidated and distributed to shareholders at a per unit basis.

• What is a "per unit basis"? I guess it means that shareholders receive an amount represented by their portion of the total number of shares. It would be nice if it were clearer.
• It should say "all assets held by the fund" rather than "all remaining assets from the last weekly report".

Thanks for the feedback

Finally,

The value of this fund depends completely on your trading ability. Do you have a track record? Can you provide information documenting your experience?
I've been operating sandstorm for 10 weeks and it's still making profit each week. I hope that this counts as something

[BitHub]

If you're managing and using people's money to trade with i think they have a right to see your weekly trade history, after the fact.

So they can judge for themselves if the person handling and trading with their money is actually doing a proper job or being factual with the rare updates they give and or actually know what they are doing.

If you believe sandstorm is doing really well and has a future i dont see why this is such a problem?

I still don't hear of any plans about the future of sandstorm or what you plan to do to take this from your bedroom to something proper?


So does SandStorm have a plan from now till end of the year to shape things up for next year?

[xaviarlol]

Josh why are your weekly reports so... uninformative? They mask virtually every important headline figure. Just show the total NAV, the total profit/loss and the dividend.

I was kind of joking before when I said that you probably do it to mask the bad performance, but now I'm actually thinking this is indeed the case, because nothing else can explain such terrible reporting.

Also, the bitcoin market isn't the problem, your assets all being in sh*tty overvalued mining companies/PMB's is the problem. Funds are supposed to be diverse, and you pretty much have every coin in some kind of mining security. My fund actually made a good profit in the last few weeks, during the "decline", so it's not completely true that the market is to blame for sandstorms big losses.

Lol what is the PMB I'm investing in?
Never have never will

Lol asicminer and basic are shitty mining company?
I'd have to disagree with you there

Your comments do make me laugh a bit.

True or false, sandstorm's assets are almost entirely made up of Bitcoin mining stocks/assets?
My point was that your "investment fund" is not diversified (it is made up almost entirely of mining stocks) and is simply made up blindingly buying in to highly priced IPO's and hoping for the best.

I'm glad you find it funny, unfortunately your shareholders do not. You have absolutely no business investing other people's money, I said this early on and the results speak for themselves. You lost people's money because you are, frankly, no where near competent and skillful enough to manage a fund.

I don't have a lot of sympathy for people who take other people's money and lose it because they have delusions of being a big-shot fund manager. I'm done with this thread, I only hope that people do a little bit of research before throwing their money in the toilet.

I still don't hear of any plans about the future of sandstorm or what you plan to do to take this from your bedroom to something proper?


So does SandStorm have a plan from now till end of the year to shape things up for next year?

Gosh, I hope not.

[jmutch]

True or false, sandstorm's assets are almost entirely made up of Bitcoin mining stocks/assets?
My point was that your "investment fund" is not diversified (it is made up almost entirely of mining stocks) and is simply made up blindingly buying in to highly priced IPO's and hoping for the best.

Yes it is. I think that these units have the highest potential for reward over the next two months.

I'm not sure why you think the Labcoin or Active mining IPO's were "high priced". They currently are up 220% and 140% respectively from IPO and when Sandstorm bought them.

I saw great demand for these stock and speculated that they would increase in value post IPO due to this demand. I stand by these decision I made for Sandstorm. I wasn't simply "hoping for the best".

I'm glad you find it funny, unfortunately your shareholders do not. You have absolutely no business investing other people's money, I said this early on and the results speak for themselves. You lost people's money because you are, frankly, no where near competent and skillful enough to manage a fund.

I don't have a lot of sympathy for people who take other people's money and lose it because they have delusions of being a big-shot fund manager. I'm done with this thread, I only hope that people do a little bit of research before throwing their money in the toilet.

I really don't think i'm some big shot, but I definitely think that I'm competent.

I'm not sure where i have lost shareholder money either. I hope that people can see through this scathing BS and see the facts:

Sandstorm started with 100BTC capital

After ten weeks Sandstorms NAV is currently around 135.21BTC

whilst paying 18.378BTC in dividends

This equals an appreciation of 53.58BTC or 53.6% over around 10 weeks


Annualized this equals around 278%. This figure is misleading as it assumes that my future performance will be the same as past performance.

My annual goal is 52%.

These are facts, not harsh words.

I still can't see where I've lost shareholders money. It is not my responsibility If people bought high priced Sandstorm shares after the IPO and these overpriced shares are starting to normalize a bit.

I'll be interesting to see which funds are still successful a few months down the track. I guess time will tell. But, I'm confident in the risk profile which I have chosen for Sandstorm.


Xavier, I wish you the best of luck operating your own fund. Hopefully this is farewell.

[jmutch]

Weekly Report.

Further hardware sales as announced by Friedcat did offer some support to the share price of  ASICminer. These sales have yet to materialise into dividends. Perhaps over the coming weeks good dividends could occur. This will drive interest and share price.

The next month will be critical in determining whether it is still wise to hold such a long position with ASICminer and mining securities. The seemingly exponential rate of difficulty increase could have implications for mining/hardware securities in general.

The more I follow the Activemining story, the more I trust their operations. I’m still reserved for now, however in the future this security may make up a larger % of Sandstorms portfolio.

Conversely I’m starting to trust Labcoin less and less as time goes on. They have much less startup capital which could be detrimental to their competitiveness.


In regards to requests for more information, every week from now on a new tab will be added to the financials spreadsheet. This will go into further detail about the positions held by Sandstorm and include the NAV. This makes it easy to track Sandstorms NAV and portfolio without doing calculations. Keep in mind that:
 - The NAV obviously doesn’t include dividends which have been previously paid out.
 - Sandstorm raised 100BTC capital through it’s IPO.



Profits
.621 BTC selling Labcoin Shares
.396 BTC selling ASICminer shares

.587 BTC ASICminer Dividends
.009 BTC Cognitive Dividends
.037 BTC bASIC Dividends
.012 BTC ActiveMining Dividends
.001 BTC Rental StarterDividends


Total =BTC 1.663(1.663BTC to dividends)

Dividends
1.663/100000 = .00001598 per share

Last weeks assets

Assets
10 ASICminer direct shares (2.5)
6 ASICminer-PT shares (2.48)
4 ASICminer-PT shares(4.19)
4 ASICminer-PT shares(3.85)
4 ASICminer-PT shares(3.81)

3000 Labcoin Shares(.001)
10 Cognitive Shares (.28)
100 RentalStarter shares (.0149)
15 bASIC shares (.27)
15 bASIC shares (.41)
3000 Active Miner shares (.0025)

6.31 BTC

Assets
10 ASICminer direct shares (2.5)
6 ASICminer-PT shares (2.48)
4 ASICminer-PT shares(4.19)
4 ASICminer-PT shares(3.81)

2000 Labcoin Shares(.001)
10 Cognitive Shares (.28)
100 RentalStarter shares (.0149)
15 bASIC shares (.27)
15 bASIC shares (.41)
3000 Active Miner shares (.0025)

22.53 BTC

https://docs.google.com/spreadsheet/ccc?key=0AhkfI_u94nYydFRIaTlBNE14aHBZNzIxRlBLWlhzTlE#gid=2

[BitHub]

Amethyst is doing better brah.

[Aahzman]

Nice. Down over 70% on havelock. sewerstorm!

[adameb]

Nice. Down over 70% on havelock. sewerstorm!

The fund is performing well.
Only the people who bought at ten times the IPO price are to blame.

Yup; no clue what people were doing valuing the portfolio at 1000+ BTC when it had like 200BTC in assets.  If you're just automatically assuming he's going to turn it over 5 times, you're doomed to be disappointed.