November 20, 2014
[The following is the Greeting only. If interested, please find the full letter by clicking the PDF below.]
Welcome to the first official investment letter of the 17 Mile Investment Diary. For new readers, 17 Mile is a personal investment diary designed to document my investment process and performance. The diary is public in order to exert as much reporting and performance pressure on myself as possible – even if nobody reads my work, the mere fact that it is on a public website and sent out via Twitter provides all the pressure I need. What follows is an analysis of how I invested from June 15th thru October 31st of this year, looking at Performance, Portfolio Management, the Market Mosaic, Security Analysis and Portfolio Activity. As with the 17 Mile site itself, the quality of content, formatting and readability will get better over time as I write more of these letters. Unfortunately, this initial letter is the guinea pig.
The original intent was to write a quarterly letter, but I quickly found out that simply will not be the case as I am too long-winded to produce this much content on a quarterly basis in a timely manner. My goal is to produce at least two if not three per year. Though depending on market events, I sometimes may produce shorter letters in order to provide updates on recent events.
Ideally the investment letters should provide updated analysis on each portfolio holding, but with this letter I simply ran out of time. I wanted it out in November and I leave for vacation next week; so updated work on YHOO, BAC, JPM and DISH is not provided in detail here.
So, onto the analysis…