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Consensus Portfolio Updates

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By Douglas A. McIntyre Published
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From World Beta

Here are the updated portfolios for the Hedge Fund Consensus, and Activist Consensus Portfolios. Performance from 12/31/2006 – 2/21/2007 is below:

Hedge: 5.76%
Activist: 2.61%
SP500: 2.72%
Rus2k: 4.79%

AMP was the best HFC stock up 24.29%, and the worst performner was AXP at -3.66%.
AKS was the best AC stock up 26.27%, and the worst performer was SLI at -19.4%.

There was a good article the other day in the NY Times about Hedge Fund Activism, and a new paper titled, "Hedge Fund Activism, Corporate Governance and Firm Performance." The article confirms that activists generate statistically significant excess returns.

Barron’s also featured a good overview of San Diego based activist Relational Investors.

On to the portfolios.

HEDGE PORTFOLIO (names in bold are new, names below in italics are removed). UNH is the most often repeated stock (6 times), with QCOM second at 5 times. All the rest are 4 or less.

AAPL
AMP
AMT
AMX
AXP
BRK
CMCSK
FDC
GOOG
MSFT
QCOM
TYC
UNH
WMT
WU

AZO
BBBY

ACTIVIST PORTFOLIO (names in bold are new, names below in italics are removed)

BBI
BGP
DADE
FD
HLT
LCAPA
LGND
LINTA
MCD
MSFT
PDLI
SHLM
SYMC
TNS
TWX
UIC
UNM
WLT
WMB

AKS
FDC
GY
IKN
SHLD
SLI
WU

Posted by Mebane Faber

http://worldbeta.blogspot.com/

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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