Thank you, Ping! Your generosity will only make us work harder to serve our loyal users!

Fundville Analytics Team

Julian Robertson at U. of Virginia

Julian Robertson at U. of Virginia

From Wikipedia:

Julian H. Robertson Jr., KNZM (Hon) (born 1932) is an American former hedge fund manager. Now retired, Robertson invests directly in other hedge funds, most run by former employees of Robertson’s defunct hedge fund company.

He was born in Salisbury, North Carolina in the United States. Robertson founded the investment firm Tiger Management Corp., one of the earliest hedge funds. Robertson is credited with turning $8 million in start-up capital in 1980 into over $22 billion in the late 1990s, though that was followed by a fast downward spiral of investor withdrawals that ended with the fund closing in 2000.

In 1993, his compensation and share of Tiger’s gain exceeded $300 million. His 2003 estimated net worth was over $400 million, and in September 2009 it was estimated by Forbes at $2.2 billion, a substantial increase from the $1.3 billion estimated the previous year. Robertson said in 2008 that he shorted subprime securities and made money through credit default swaps.The following year, according to Forbes, Robertson’s return on his $200-million personal trading account was 150 percent.

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Please make sure to check our blog “The Ultimate Guide to Tiger Cubs and Tiger Seeds” that will be released tomorrow. It’s the most authoritative and complete list of hedge fund managers coming from the Tiger family.

Fundville Analytics Team

We are working on the site continuously to introduce new features and improve current ones. Today we add a 3D looking navigation guide on some pages. Go to Home page and play with it. We think it’s quite cool.

If you see short term disruption or the site behaves strangely, it’s most likely that we are updating and testing the site. Please be patient and check back in 2-3 minutes.

Good investing!

Fundville Analytics Team

Internet Following From New Yorker

"Internet Following" From New Yorker

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Since fundville.com went online, we have submitted the sitemap to Google, Bing and Yahoo. Now Google includes 6000 pages, Bing and Yahoo only include teens. Let’s see the traffic from three search engines:

google 97.72%
yahoo 1.37%
aol 0.51%
bing 0.41%

What can we say? People run Bing and Yahoo search are idiots.

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Dr. Michael Burry, Picture from Vanity Fair

We have been following Dr. Michael Burry’s Scion Capital since 2006, mostly through its 13F filings. We had heard some stories of his dark days long before Dr. Burry suddenly became a hedge fund legend. Michael Lewis’s “Betting on the Blind Side” on Vanity Fair is an extremely well written story and a must read to all investors. We followed Dr. Burry long before the crowd because personally we admired his way of value investing. Dr, Burry, if you are reading this blog, please shoot us an email support@fundville.com.

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This is the 2nd well written white paper on China’s current economy and ongoing asset bubble. The previous one was from Pivot Capital and can be viewed here on Scribd (download PDF file here).

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Goldman Sachs’ “Hedge Fund VIP 50 Stocks” has become a very popular strategy among institutional investors. Bloomberg even lists it as a tradable basket. VIP means “Very Important Positions” in Goldman Sachs’ report, basically it’s a list of the most popular stocks among top 10 holdings of hedge fund managers. Goldman Sachs chose 627 managers and derived its VIP 50 stock list based on their Q4 2009 SEC 13F filings in its most recent report.

Fundville provides you a powerful tool called VPStock. VPStock means “Very Popular Stock”, and is more close to the true meaning of original VIP 50 list. Instead of being limited to the managers chosen by Goldman Sachs, you can choose you own group of managers, choose your own number of top holdings and build up your customized VIP 50 list.

This tool is very similar to our “Masters” tool, but a little simpler. Please read our blog on how to use the “Master” tool first.

Let’s still use the hedge fund blog Market Folly’s favorite three hedge fund managers to show how to use the VPStock tool. The three managers are Seth Klarman of The Baupost Group, Eric Mindich of Eton Park Capital, and Chris Shumway of Shumway Capital Partners. All three managers are highly recognized, extremely successful managers with a long term track record.

First, let’s find the “fund ID” of each manager. Search “Baupost” on fundville and will lead you to Baupost Group’s page.  Note that in web browser, the URL for the page is http://fundville.com/fund/271/BAUPOST-GROUP-LLC-MA, and the number 271 is the fund ID that represents Baupost Group in our database.

Similarly, we find that the fund ID for Eton Park Capital is 925, and fund ID for Shumway Capital Partners is 2480. Our job is 95% done.

Now we come to the easy and final part. “INPUT:” is the number of top stocks to choose from manager’s portfolio, “OUTPUT:” is the number of top stocks to show from the resulted list.

Let’s find out what are the most popular 20 stocks among the three managers, in their top 10 holdings:

FUND: 271|925|2480
INPUT:10
OUTPUT:20

and the result is:

20 Most Popular Stocks (Choose from top 10 stocks of each fund)

Popularity Company Stock # Funds Own % Funds Own (of 3 Funds)
1.) BANK OF AMERICA CORPORATION BAC-PS 2 66.67%
2.) NEWS CORPORATION NWSA 1 33.33%
3.) DOMTAR CORP UFS 1 33.33%
4.) VIASAT, INC. VSAT 1 33.33%
5.) THERAVANCE, INC. THRX 1 33.33%
6.) BREITBURN ENERGY PARTNERS, L.P. - COMMON UNITS REP BBEP 1 33.33%
7.) ENZON PHARMACEUTICALS, INC. ENZN 1 33.33%
8.) CAPITALSOURCE INC CSE 1 33.33%
9.) APPLE INC. AAPL 1 33.33%
10.) WELLS FARGO & CO. WFC 1 33.33%
11.) CIT GROUP INC NEWCOM NEW CIT 1 33.33%
12.) JOHNSON & JOHNSON JNJ 1 33.33%
13.) TEVA PHARMACEUTICAL INDUSTRIES LTD ADR TEVA 1 33.33%
14.) EQUINIX, INC. EQIX 1 33.33%
15.) FACET BIOTECH CORPORATION FACT 1 33.33%
16.) PEPSICO INC. PEP 1 33.33%
17.) PFIZER INC PFE 1 33.33%
18.) DIRECTV COM CL A DTV 1 33.33%
19.) DISNEY (WALT) CO. (THE) DIS 1 33.33%
20.) TIME WARNER INC TWX 1 33.33%

If the sample size (number of managers) is too small, the result may not be meaningful. We used the VPStock to run against all the 2720 managers who filed 13F to SEC in Q4, 2009 and came up our own FVP100 list (Fundville Very Popular 100). The list shows the top 100 most popular stocks among top 10 holdings of all institutional investors.

Popularity Company Stock # Funds Own % Funds Own (of 2720 Funds)
1.) EXXON MOBIL CORP. XOM 705 25.92%
2.) MICROSOFT CORPORATION MSFT 660 24.26%
3.) JOHNSON & JOHNSON JNJ 625 22.98%
4.) PROCTER & GAMBLE CO. PG 466 17.13%
5.) INTERNATIONAL BUSINESS MACHINES CORP. IBM 456 16.76%
6.) APPLE INC. AAPL 436 16.03%
7.) CHEVRON CORPORATION CVX 330 12.13%
8.) JPMORGAN CHASE & CO. JPM 323 11.88%
9.) GOOGLE INC. GOOG 320 11.76%
10.) CISCO SYSTEMS, INC. CSCO 311 11.43%
11.) GENERAL ELECTRIC CO GE 282 10.37%
12.) PFIZER INC PFE 255 9.38%
13.) PEPSICO INC. PEP 251 9.23%
14.) AT&T INC T 220 8.09%
15.) HEWLETT-PACKARD CO HPQ 211 7.76%
16.) SPDR S&P 500 ETF SPY 197 7.24%
17.) INTEL CORPORATION INTC 182 6.69%
18.) ISHARES TRUST MSCI EAFE INDEX FUND EFA 178 6.54%
19.) SPDR GOLD TRUST GS GLD 157 5.77%
20.) COCA-COLA CO (THE) KO 154 5.66%
21.) WAL-MART STORES, INC. WMT 150 5.51%
22.) ABBOTT LABORATORIES ABT 150 5.51%
23.) WELLS FARGO & CO. WFC 139 5.11%
24.) ISHARES TRUST MSCI EMERGING MARKETS INDEX EEM 137 5.04%
25.) ORACLE CORPORATION ORCL 129 4.74%
26.) BANK OF AMERICA CORP. BAC 126 4.63%
27.) BERKSHIRE HATHAWAY INC DELCL B NEW BRK-B 124 4.56%
28.) 3M CO MMM 121 4.45%
29.) UNITED TECHNOLOGIES CORP. UTX 114 4.19%
30.) TEVA PHARMACEUTICAL INDUSTRIES LTD ADR TEVA 111 4.08%
31.) QUALCOMM INCORPORATED QCOM 109 4.01%
32.) MCDONALD CORP MCD 98 3.60%
33.) MERCK & CO INC NEWCOM MRK 97 3.57%
34.) SCHLUMBERGER LTD. (NETHERLANDS ANTILLES) SLB 96 3.53%
35.) CONOCOPHILLIPS COP 93 3.42%
36.) GOLDMAN SACHS GROUP, INC. GS 89 3.27%
37.) VERIZON COMMUNICATIONS INC VZ 89 3.27%
38.) ISHARES TRUST BARCLAYS TREAS NFLTN PRTCT TIP 77 2.83%
39.) CVS CAREMARK CORPORATION CVS 76 2.79%
40.) VANGRD EMRG MKT ETF VWO 75 2.76%
41.) MASTERCARD INC MA 75 2.76%
42.) PHILIP MORRIS INTL PM 71 2.61%
43.) OCCIDENTAL PETROLEUM CORP OXY 69 2.54%
44.) APACHE CORP. APA 69 2.54%
45.) COLGATE-PALMOLIVE CO. CL 68 2.50%
46.) BERKSHIRE HATHAWAY INC. CL A BRK-A 66 2.43%
47.) AMAZON.COM, INC. AMZN 66 2.43%
48.) BP P.L.C. BP 66 2.43%
49.) BURLINGTN N SANTE FE BNI 65 2.39%
50.) ISHARES TRUST RUSSELL 2000 INDEX FUND IWM 65 2.39%
51.) BANK OF AMERICA CORPORATION BAC-PS 62 2.28%
52.) MEDTRONIC, INC. MDT 62 2.28%
53.) EMERSON ELECTRIC CO. EMR 62 2.28%
54.) BARRICK GOLD CORP. ABX 61 2.24%
55.) CITIGROUP INC C 60 2.21%
56.) VISA INC. V 60 2.21%
57.) MONSANTO CO. MON 59 2.17%
58.) ISHARES TRUST S&P 500 INDEX FUND IVV 58 2.13%
59.) WALGREEN CO. WAG 58 2.13%
60.) XTO ENERGY, INC. XTO 55 2.02%
61.) POWERSHARES EXCHANGE-TRADED FUND TRUST - POWERSHAR QQQQ 54 1.99%
62.) SUNCOR ENERGY INC. SU 54 1.99%
63.) DISNEY (WALT) CO. (THE) DIS 54 1.99%
64.) EMC CORP. (MA) EMC 54 1.99%
65.) COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION CTSH 52 1.91%
66.) DIRECTV COM CL A DTV 51 1.88%
67.) THERMO FISHER SCIENTIFIC INC TMO 51 1.88%
68.) ISHARES GS $ INVESTO LQD 50 1.84%
69.) EXPRESS SCRIPTS, INC. ESRX 50 1.84%
70.) TRANSOCEAN LTD RIG 49 1.80%
71.) ISHARE RUS 1000 GROW IWF 47 1.73%
72.) DEVON ENERGY CORP. DVN 47 1.73%
73.) CIT GROUP INC NEWCOM NEW CIT 46 1.69%
74.) ANADARKO PETROLEUM CORP APC 46 1.69%
75.) SPDR S&P MIDCAP 400 ETF TR UNIT SER 1 STANDARD MDY 45 1.65%
76.) BRISTOL-MYERS SQUIBB CO. BMY 45 1.65%
77.) FREEPORT-MCMORAN COPPER & GOLD INC. FCX 45 1.65%
78.) ACCENTURE PLC ACN 45 1.65%
79.) AMERICAN EXPRESS CO. AXP 44 1.62%
80.) U.S. BANCORP (DE) USB 43 1.58%
81.) ISHARES TR FTSE INDX FXI 43 1.58%
82.) CANADIAN NATURAL RESOURCES LTD. CNQ 43 1.58%
83.) SIMON PROPERTY GROUP, INC. SPG 42 1.54%
84.) ISHARES BARCLAYS AGGREGATE BOND FUND AGG 42 1.54%
85.) RESEARCH IN MOTION LIMITED RIMM 42 1.54%
86.) HOME DEPOT INC HD 40 1.47%
87.) EBAY INC. EBAY 40 1.47%
88.) PETROLEO BRASILEIRO S.A. PBR 40 1.47%
89.) COVIDIEN PLC COV 40 1.47%
90.) GILEAD SCIENCES, INC. GILD 39 1.43%
91.) AUTOMATIC DATA PROCESSING, INC. ADP 39 1.43%
92.) BECTON, DICKINSON AND CO. BDX 39 1.43%
93.) STRYKER CORP. SYK 37 1.36%
94.) AMGEN INC. AMGN 37 1.36%
95.) AFLAC INC. AFL 37 1.36%
96.) ISHARES TRUST REG. SHS S&P MIDCAP 400 IDX ON IJH 36 1.32%
97.) GOLDCORP INC GG 36 1.32%
98.) CELGENE CORPORATION CELG 36 1.32%
99.) ENTERPRISE PRODUCTS PARTNERS L.P. EPD 36 1.32%
100.) AMERICAN TOWER CORP. AMT 35 1.29%

The tool needs to do some complicated calculations so it takes a while to show the result. Please be patient.

Simple, isn’t it? Now try it yourself.

Fundville Analytics Team

It’s smart to follow the “smart money”. Well known hedge fund blog Market Folly gave a detailed explanation about why and how. Fundville’s “Masters” tool will let you follow your favorite fund managers and build a portfolio copying their strategies, but for free and have 2700 managers to choose from.

Click on the link of “Masters” at the top of every page brings you directly to the tool. We thought about implementing a more user-friendly interface (because fundville.com was built upon user-friendliness) at the beginning, but we ended up with a single text area where user can enter queries. The idea is that we have all the structured data of institutional investor stock ownership and we will certainly bring more powerful tools in the future. Instead of working on specific user interface every time, we simply introduce new format of query and re-tool our engine to make it ultimately, user-friendly.

Let’s start on how to build the queries for the “Masters” tool with Market Folly ’s favorite 3 hedge fund managers, Seth Klarman of The Baupost Group, Eric Mindich of Eton Park Capital, and Chris Shumway of Shumway Capital Partners. All three managers are highly recognized, extremely successful managers with a long term track record.

First, let’s find the “fund ID” of each manager. Search “Baupost” on fundville and will lead you to Baupost Group’s page.  Note that in web browser, the URL for the page is http://fundville.com/fund/271/BAUPOST-GROUP-LLC-MA, and the number 271 is the fund ID that represents Baupost Group in our database.

Similarly, we find that the fund ID for Eton Park Capital is 925, and fund ID for Shumway Capital Partners is 2480. Our job is 75% done.

Now the tough part is how to weight the 3 wonderful managers. Suppose you have $100,000 to invest following these 3 managers. You could give them 1/3 for each or you can give $30,000 each to Baupost and Eton Park, and $40,000 to Shumway.

If you give 1/3 to each, your first line of the query is FUND: 271,1|925,1|2480,1. Note that you must put a ‘|’ to separate each fund.

If you decide to give $30,000 each to Baupost and Eton Park, and $40,000 to Shumway, your first line of the query is FUND: 271,3|925,3|2480,4. Our engine will calculate the percentage each fund takes.

Now let’s move on to the 2nd line, “WEIGHTED:”. Currently you can only put on ”WEIGHTED: YES” or “WEIGHTED: NO”. “WEIGHTED: YES” means the model portfolio will keep the original weight in manager’s portfolio, i.e., if you give $30,000 to Baupost, it will be allocated to Baupost’s top 10 or top 5 holdings based on Baupost’s original allocation, rolled up to 100%. “WEIGHTED: YES” is more close to run a real fund-of-funds where you give the money to a manager, and ask him/her to invest only in top 10 or top 5 holdings of his/her fund according to the fund’s allocation.

WEIGHTED: NO” is much simpler and requires less computing power. It simply finds the top 10 or top 5 positions of each manager and then weights equally in the model portfolio. If you go 30% and top 10 stocks with Baupost, each stock will be weighted 3%. Market Folly ’s portfolio uses top 5, equally weighted method to “clone” the 3 managers.

Now we come to the easy and final part. “INPUT:” is the number of top stocks to choose from manager’s portfolio, “OUTPUT:” is the number of top stocks to show from the resulted model portfolio.

If you decide to give $30,000 each to Baupost and Eton Park, and $40,000 to Shumway, and want to weighted according to original portfolio, with top 10 as input and top 20 as output, the query is:

FUND: 271,3|925,3|2480,4
WEIGHTED:YES
INPUT:10
OUTPUT:20

And the result is:

Top 20 Stocks Resulted From Your Model Portfolio Query

No. Company Stock % Portfolio (Value)
1.) BANK OF AMERICA CORPORATION BAC-PS 15.18%
2.) NEWS CORPORATION NWSA 9.81%
3.) CITIGROUP INC C 6.01%
4.) APPLE INC. AAPL 5.48%
5.) WELLS FARGO & CO. WFC 5.38%
6.) JOHNSON & JOHNSON JNJ 4.75%
7.) DOMTAR CORP UFS 4.71%
8.) TEVA PHARMACEUTICAL INDUSTRIES LTD ADR TEVA 4.70%
9.) EQUINIX, INC. EQIX 4.67%
10.) VIASAT, INC. VSAT 4.58%
11.) PEPSICO INC. PEP 4.33%
12.) PFIZER INC PFE 4.14%
13.) THERAVANCE, INC. THRX 3.87%
14.) DISNEY (WALT) CO. (THE) DIS 3.81%
15.) TIME WARNER INC TWX 3.79%
16.) VERISK ANALYTICS, INC. VRSK 3.59%
17.) VIACOM INC CL B VIA-B 3.34%
18.) BREITBURN ENERGY PARTNERS, L.P. - COMMON UNITS REP BBEP 2.64%
19.) AMDOCS LTD ORD DOX 2.63%
20.) GOODYEAR TIRE & RUBBER CO. GT 2.60%
Total 100%

Now let’s come back to Market Folly ’s portfolio, the query is:

FUND: 271,1|925,1|2480,1
WEIGHTED:NO
INPUT:5
OUTPUT:15

and the result is:

Top 15 Stocks Resulted From Your Model Portfolio Query

No. Company Stock % Portfolio (Value)
1.) BANK OF AMERICA CORPORATION BAC-PS 13.33%
2.) TEVA PHARMACEUTICAL INDUSTRIES LTD ADR TEVA 6.67%
3.) NEWS CORPORATION NWSA 6.67%
4.) VIACOM INC CL B VIA-B 6.67%
5.) THERAVANCE, INC. THRX 6.67%
6.) WELLS FARGO & CO. WFC 6.67%
7.) CITIGROUP INC C 6.67%
8.) DOMTAR CORP UFS 6.67%
9.) AMDOCS LTD ORD DOX 6.67%
10.) BREITBURN ENERGY PARTNERS, L.P. - COMMON UNITS REP BBEP 6.67%
11.) JOHNSON & JOHNSON JNJ 6.67%
12.) VERISK ANALYTICS, INC. VRSK 6.67%
13.) VIASAT, INC. VSAT 6.67%
14.) APPLE INC. AAPL 6.67%
Total 100%

Note that we only have 14 stocks to show. It’s due to that both Eton Park and Shumway bought BAC-PS, the Bank of America newly issued equity units in last quarter and our engine automatically roll the positions up.

The tool needs to do some complicated calculations so it takes a while to show the result. Please be patient.

Simple, isn’t it? Now try it yourself.

Fundville Analytics Team

PS: Other interesting queries:

Smart hedges (Paulson, Appaloosa, Greenlight, Third Point):

FUND: 2516,1|108,1|1158,1|2810,1
WEIGHTED:NO
INPUT:5
OUTPUT:15

Please add your queries in the comments. Thanks!