|
As an Ohio
State University study shows,
only about 20 percent of individual
investors outperform the market
return. Indeed, many professional
investment advisers and brokers
perform at or below market levels,
often due to a heavy reliance on mutual
funds. There are other significant
problems with the performance of
investment professionals; to get
an account of why
large brokerage firms often perform
so poorly, click
here.
Since Liberty Hill opened February 27, 2006, Liberty Hill clients have outpaced the S&P 500 by a significant margin. The majority of client portfolios hold diversified stocks in long positions, but there are also significant holdings in bonds, a small percentage of stock options, and some cash equivalents. The following table measures the performance of all Liberty Hill client accounts since February 27, 2006 versus the time-weighted S&P 500 return over the same period (pro bono accounts are not included in the performance data). The Liberty Hill Clients' return is adjusted for all fees charged by Liberty Hill. The S&P 500 is an index of 500 widely held blue-chip stocks; it is the most common benchmark used to gauge market performance and must be time-weighted whenever it is compared to investments with fluctuating cost bases. Liberty Hill client performance is updated weekly.
The performance as of July 23, 2008:
Over the past several years, Liberty Hill's portfolio manager, Mr. Durphy, has soundly eclipsed the S&P 500. To demonstrate the efficacy of his approach, Mr. Durphy began management of a real-money portfolio on August 31, 2004. The portfolio started with $95,784 and holds diversified stocks and cash equivalents. The Durphy portfolio's performance is updated weekly.
The performance
as of July 23, 2008:
Liberty Hill’s pro bono clients receive the same careful attention that all our clients receive, and certainly the pro bono client performance shows the same market beating return. Liberty Hill pro bono management began on June 20, 2005 and is measured versus the time-weighted S&P 500 return over the same period. The pro bono client performance is updated weekly.
The performance as of July 23, 2008:
Past performance, of course, does not guarantee future success.
Top 5 Durphy Portfolio Holdings
FormFactor Inc. (FORM)
Genesee & Wyoming Inc. (GWR)
Green Mountain Coffee Roasters Inc. (GMCR)
Intuitive Surgical Inc. (ISRG)
Middleby Corp. (MIDD)
|
