[CLOSING...] MOVETO.FUND - MoveTo Growth Fund

[cytokine]

Just what I've been looking for. I'm in for the long haul. looks promising.

[1714000786]

1714000786

[1714000786]

1714000786

[cytokine]

I would like to remove the 20% per asset allocation limit, and make allocation a judgement call on a case-by-case basis. Additionally, I would like to have the ability to invest outside of the GLBSE (for example, at other exchanges or opportunities). The reason is simple: at present, due to the very small number of high quality assets, these two restrictions are unnecessarily tying us up and reducing efficiency by forcing us to invest in assets that are less efficient. I was not expecting this because my past experience has been trading the S&P500 where this is not a problem because there are plenty of shares to choose from, but on the much smaller GLBSE it is. I personally am very unhappy with this situation considering that I now own 3.5K+ shares and would like to be more efficient with these shares.

Since this would be a minor change of the contract, however, I will of course buy-back any shares from those who disagree with the modification immediately upon their request at the full NAV per share. The updated contract is much more mature and should be something we can go with for some time to come. I also added in a clarification about how fees work, because the previous contract was ambiguous.

I will absolutely not make it a habit of changing terms (this is likely a very rare event), but you must realize this is just the first month of operation and therefore I am learning a lot about how to properly structure GLBSE contracts. It is in everyone's best interest to do this now, in my opinion.

As always, your feedback is welcome.

Here is the updated contract:
(0) Each IPO share represents a 1 BTC investment in the fund.
(1) The fund trades and invests primarily in securities on the GLBSE, but may also invest in opportunities outside of the GLBSE. The fund will not be involved in any pirate-related investments.
(2) 80% of earnings are reinvested for fund growth, and 20% are paid out as fees to the fund operator. Fees are paid once a month on the first of the month.
TO CLARIFY:
The 20% fee only applies to the differential between the last high water mark and the new high water mark. This means that I only make money when my investors make money. For example: if we have a losing month, that means I have to make that money back and then some before I can get paid. (This is also known as a performance fee.) There is no management fee.
(3) The fund operator will buy-back shares on the first of every month upon request to ensure liquidity for exiting MOVETO.FUND. Each share is valued at the NAV per share minus 1% to cover redemption expenses.
(4) New shares may be issued at any time at the NAV per share to ensure liquidity for entering MOVETO.FUND
(5) This contract may be amended in the future provided (1) the operator alerts all investors and offers to buy back shares at the full NAV per share and (2) the operator gives at least 2 weeks prior notice. The buy-back offer must be open for one full month after any modification.

Many thanks,
-cyto

[Bitcoin Oz]

I might invest in this. Is there a mailing list or private forum for shareholders ?

[cytokine]

I might invest in this. Is there a mailing list or private forum for shareholders ?

No, there is no private mailing list. I post updates to this thread, but I will also send financials to shareholders each month using the "motion" feature on the GLBSE. (And of course I'll post a heads-up here when that happens.)

[Bitcoin Oz]

I might invest in this. Is there a mailing list or private forum for shareholders ?

No, there is no private mailing list. I post updates to this thread, but I will also send financials to shareholders each month using the "motion" feature on the GLBSE. ( And of course I'll post a heads-up here when that happens. )

Thanks. Thats an interesting use of the motions feature on glbse

[cytokine]

I might invest in this. Is there a mailing list or private forum for shareholders ?

No, there is no private mailing list. I post updates to this thread, but I will also send financials to shareholders each month using the "motion" feature on the GLBSE. (And of course I'll post a heads-up here when that happens.)

Thanks. Thats an interesting use of the motions feature on glbse

It does the job for now

[cytokine]

For some reason twitter wants to replace "ASIC.COOP" with "http://t.co/HqBwgQHl"

Why twitter, why? Just give me the raw text data that I asked for, please!

In any event, for now just building a look-up table for the symbols that twitter thinks are urls, a la text.replace('http://t.co/HqBwgQHl', 'ASIC.COOP').

Sry, just wanted to vent about how much twitter pisses me off. That is all

[exahash]

For some reason twitter wants to replace "ASIC.COOP" with "http://t.co/HqBwgQHl"

Why twitter, why? Just give me the raw text data that I asked for, please!

In any event, for now just building a look-up table for the symbols that twitter thinks are urls, a la text.replace( 'http://t.co/HqBwgQHl', 'ASIC.COOP' ).

Sry, just wanted to vent about how much twitter pisses me off. That is all

Well, .coop is a really popular tld didn't you know!  Of course Twitter should interpret that ticker as a url!

[Francesco]

Am I the only one a bit worried by a sudden 20% fall in prices in a few days? Is everything ok?

[finkleshnorts]

That was a volume of like 10 shares or so. I had to liquidate *some* of my holdings. Nothing to worry about.

[Francesco]

That was a volume of like 10 shares or so. I had to liquidate *some* of my holdings. Nothing to worry about.

Real thanks for the info!

Hopefully low volumes will be only a memory, if citokyne delivers the results he's making us hope for

[finkleshnorts]

im concerned about the dip in prices for mining bonds recently.

[cytokine]

That was a volume of like 10 shares or so. I had to liquidate *some* of my holdings. Nothing to worry about.

im concerned about the dip in prices for mining bonds recently.

I'll be going over all of this stuff in the monthly update on Sunday, but it seems that I should say something now. We are relatively safe from most of the storm: I have sell signals on only approximately one fifth of our holdings (that is, for these assets further price declines are expected), whereas we still have strong buy signals on the vast majority (~80%) of the portfolio which is continuing to deliver gains.

That said, I can certainly see from my research that there is a strong bear market right now in most GLBSE assets, which is precisely why I lifted the 20% per asset allocation limit - so we can avoid the mess and find the few pockets of winners and focus on those.

Also, regarding liquidating holdings - as per the FAQ, just PM me with how many shares you want bought back, and I'll buy them back at the NAV minus 1% the week of the new month. As of yesterday when I updated the NAV each share was valued at 1.0755 BTC, but of course I'll be updating this again on Sunday. So I wouldn't be selling at the crazy low prices that other people are trading shares at... the only reason this is occurring must be because some people don't want to wait for the next buyback period.

As always, I will keep you posted.
-cyto

[finkleshnorts]

 In the short-term we're about flat because we had to pay up to get higher-yielding assets, but only by sacrificing about a couple weeks of future gains.

As of yesterday when I updated the NAV each share was valued at 1.0755 BTC,
-cyto

I'm guessing many will regret not investing more here.

Yes, this looks very promising. I will reinvest more when I can.

Too bad I was in a hurry to get out. Better snatch up those .90 cent shares while you can.

[Sukrim]

Might even give you a nice profit snatching cheap shares and cashing out on Sunday!

[silverfuture]

Thanks Honest Bob!  I picked up a few at those prices even though I had already heavily invested in MOVETO.FUND.  I won't be selling any time soon though as I figure that anyone able to make some scratch in the past month's environment at GLBSE must be doing something right.

[cytokine]

I had some spare time today so I'm issuing the monthly report a day early. I also decided just to go ahead and make everything public, it's just easier this way. If you spot an accounting mistake, please notify me ASAP. If you want shares bought-back, just PM me and I'll buy them this week at the buy-back price.

Also, as a note, I take my fees in terms of shares (since I would just reinvest them anyway), rather than as BTC. I always round down when I do the calculation to favor my investors.

MOVETO.FUND Monthly Report 7/1/2012*
*Report issued 6/30/2012 (one day early)

Portfolio (Using last trade prices as of 6/30/2012)

SYMBOL	SHARES	PRICE	VALUE
TYGRR.BOND-B	10101	0.101	1020.201
COGNITIVE	1560	0.57786	901.4616
FPGA.CONTRACT	62	0.319	19.778
BDK.BND	5946	0.101	600.546
PUREMINING	3209	0.2299	737.7491
TYGRR-TECH	153	2.05	313.65
GIGAMINING	247	0.9702	239.6394
NCKRAZZE	2000	1	2000
BTC	0.06467349	1	0.06467349

Valuation
Total: 5833.08977349
# Shares before fees: 5687
NAV per share before fees: 1.0256883723
Last HWM: 1
New HWM: 1.025688372
Earnings per share: 0.0256883723
Fees per share: 0.0051376745
NAV per share after fees: 1.0205506979
Buyback Price: 1.0103451909
Fees in BTC terms: 29.217954698
Fees in share terms (rounded down): 28
# Shares after fees: 5715

Summary
We are experiencing our first bear market on the GLBSE, and therefore it has been a difficult month for nearly everyone involved in the Bitcoin financial markets. We were up significantly last week, but some of our assets took a bit of a dive over the past few days. It is times like these that I am happy to have a system to rely on since it takes the emotion out of the equation. Luckily, most of our portfolio maintained strength throughout the entire month, and therefore I am happy with the majority of our purchases and the future stream of profits I expect from them. The model issued a sell signal on only about a quarter of our holdings, and so for these assets I am attempting to get out of at reasonable prices. Unfortunately, this is nearly impossible given the lack of liquidity on the GLBSE, so until then all coupons from weak assets simply get redirected to strong assets.

At the moment, there are very few quality assets on the GLBSE. I am continuing to pull down data every day for analysis, so hopefully some new promising opportunities will present themselves. Until then, we will remain fairly concentrated to protect ourselves from the potential for further declines in the majority of GLBSE assets. I expect a much higher return during the next month of operation, but even with a small return this month I believe we did well considering market conditions.

I will keep you posted. Take care,
-cytokine

[cytokine]

Lol, of course the day after I post results we get a nice market rally . In any event, this is just more evidence that this next month should be a significant improvement, since we picked a low point in the NAV per share to do the report. I will start updating the NAV per share more frequently (once per week) to ensure that we do not dilute when raising money. This will also keep everyone more up-to-date with the fund's progress.

[cytokine]

I had some fun dealing with FUDsters today. You can read my rebuttal here. Needless to say, I can answer pretty much any question anyone throws my way because I know what I'm doing and I do what I say.

In any event, we got a very strong buy signal on a new asset today! There are a couple other new ones that I'm also looking at as a long-term play, but my short-term indicators have not moved into buy territory quite yet. I may nibble at these anyway though.

Additionally, some of our assets which had sells on them have since moved into such strongly oversold territory that I'm holding them further since I believe they have bottomed out for now (i.e. their relative valuation is now in line with other similar assets). This is the main reason I expect this month to have significantly better performance than last, but as always, it's up to the markets.

Thanks for reading,
-cyto

[bitcoinBull]

I had some fun dealing with FUDsters today. You can read my rebuttal here. Needless to say, I can answer pretty much any question anyone throws my way because I know what I'm doing and I do what I say.

Thanks for the book recommendation, looks decent. As long as you aren't promising/claiming consistent returns (I'm not sure that you are), I won't rain on your parade. The ponzis already here are too blatant. How about some subtlety for gosh sakes..