{"id":1880601,"date":"2013-12-15T11:45:25","date_gmt":"2013-12-15T06:15:25","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=1880601"},"modified":"2013-12-15T11:45:25","modified_gmt":"2013-12-15T06:15:25","slug":"strategy-performance-roundup","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/12\/15\/strategy-performance-roundup\/","title":{"rendered":"Strategy Performance Roundup"},"content":{"rendered":"

We have been tracking different investment strategies through our Themes – a handy way to create, track and allocate capital to different investment strategies. As our frequent readers know, we do a “doodh ka doodh pani ka pani” theme whenever analysts come out with portfolio recommendations. Add to the mix our own value and quantitative strategies, and we have a fairly wide array of investment options for investors to choose from.<\/p>\n

Here’s a roundup of how the different Themes performed, and the performance of ETFs over the same time-frame. Because at the end of the day, if the Nifty ETF out-performs the bheja-fry, why bother?<\/p>\n

Three Months<\/h3>\n

From 2013-9-13 to 2013-12-13<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Quality to Price<\/a><\/td>\n+38.83%<\/span><\/td>\n<\/tr>\n
Prabhudas Lilladher Midcap 10-Sept-2013<\/a><\/td>\n+24.02%<\/span><\/td>\n<\/tr>\n
CS Midcap 28-Aug-2013<\/a><\/td>\n+17.48%<\/span><\/td>\n<\/tr>\n
DB Rupee Depreciation 3-Sept-2013<\/a><\/td>\n+16.18%<\/span><\/td>\n<\/tr>\n
Balance-sheet Strength<\/a><\/td>\n+15.88%<\/span><\/td>\n<\/tr>\n
Growth with Moat<\/a><\/td>\n+12.13%<\/span><\/td>\n<\/tr>\n
Financial Strength Value<\/a><\/td>\n+11.60%<\/span><\/td>\n<\/tr>\n
ADAG Mania<\/a><\/td>\n+8.86%<\/span><\/td>\n<\/tr>\n
Prabhudas Lilladher Largecap 13-Sept-2013<\/a><\/td>\n+6.85%<\/span><\/td>\n<\/tr>\n
Momentum 200<\/a><\/td>\n+3.62%<\/span><\/td>\n<\/tr>\n
Efficient Growth<\/a><\/td>\n+3.20%<\/span><\/td>\n<\/tr>\n
Market Elephants<\/a><\/td>\n+3.01%<\/span><\/td>\n<\/tr>\n
Magic Formula Investing<\/a><\/td>\n+2.28%<\/span><\/td>\n<\/tr>\n
Globe Monthly Monitor<\/a><\/td>\n+0.22%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Value strategies are usually perceived to require a long time to pan out. But our Quality-to-Price portfolio left the nearest competitor in the dust. Also, you got rewarded for going down the market-cap tables.<\/div>\n<\/div>\n

Should you have invested in ETFs, these are the returns over the same period.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
BANKBEES<\/a><\/td>\n+11.56%<\/span><\/td>\n<\/tr>\n
JUNIORBEES<\/a><\/td>\n+10.57%<\/span><\/td>\n<\/tr>\n
PSUBNKBEES<\/a><\/td>\n+10.08%<\/span><\/td>\n<\/tr>\n
NIFTYBEES<\/a><\/td>\n+5.64%<\/span><\/td>\n<\/tr>\n
INFRABEES<\/a><\/td>\n+2.82%<\/span><\/td>\n<\/tr>\n
GOLDBEES<\/a><\/td>\n+1.71%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Not bad, but not very encouraging to the efficient market hypothesizers.<\/div>\n<\/div>\n

Two Months<\/h3>\n

From 2013-10-15 to 2013-12-13<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Quality to Price<\/a><\/td>\n+32.57%<\/span><\/td>\n<\/tr>\n
Prabhudas Lilladher Midcap 10-Sept-2013<\/a><\/td>\n+11.44%<\/span><\/td>\n<\/tr>\n
CS Midcap 28-Aug-2013<\/a><\/td>\n+10.28%<\/span><\/td>\n<\/tr>\n
Balance-sheet Strength<\/a><\/td>\n+10.12%<\/span><\/td>\n<\/tr>\n
Growth with Moat<\/a><\/td>\n+6.74%<\/span><\/td>\n<\/tr>\n
DB Rupee Depreciation 3-Sept-2013<\/a><\/td>\n+6.36%<\/span><\/td>\n<\/tr>\n
ADAG Mania<\/a><\/td>\n+5.01%<\/span><\/td>\n<\/tr>\n
Financial Strength Value<\/a><\/td>\n+4.76%<\/span><\/td>\n<\/tr>\n
Enterprise Yield<\/a><\/td>\n+3.15%<\/span><\/td>\n<\/tr>\n
Betting on Bharat October-2013<\/a><\/td>\n+3.04%<\/span><\/td>\n<\/tr>\n
Magic Formula Investing<\/a><\/td>\n+3.01%<\/span><\/td>\n<\/tr>\n
Prabhudas Lilladher Largecap 13-Sept-2013<\/a><\/td>\n+1.74%<\/span><\/td>\n<\/tr>\n
Globe Monthly Monitor<\/a><\/td>\n+0.05%<\/span><\/td>\n<\/tr>\n
Momentum 200<\/a><\/td>\n-0.91%<\/span><\/td>\n<\/tr>\n
Efficient Growth<\/a><\/td>\n-1.58%<\/span><\/td>\n<\/tr>\n
Market Elephants<\/a><\/td>\n-2.72%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Mid-caps continued to out-perform large-caps. But cheap stocks were probably getting fully-priced at this point.<\/div>\n<\/div>\n

Should you have invested in ETFs, these are the returns over the same period.<\/p>\n

\n
\n\n\n\n\n\n\n\n
PSUBNKBEES<\/a><\/td>\n+15.93%<\/span><\/td>\n<\/tr>\n
BANKBEES<\/a><\/td>\n+9.91%<\/span><\/td>\n<\/tr>\n
JUNIORBEES<\/a><\/td>\n+4.38%<\/span><\/td>\n<\/tr>\n
NIFTYBEES<\/a><\/td>\n+1.53%<\/span><\/td>\n<\/tr>\n
GOLDBEES<\/a><\/td>\n+0.20%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
PSU Banks caught a bid after getting hammered relentlessly for over a year. But even the Junior Nifty couldn’t beat a quantitative or hand-crafted portfolio.<\/div>\n<\/div>\n

One month<\/h3>\n

From 2013-11-14 to 2013-12-13<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Quality to Price<\/a><\/td>\n+19.35%<\/span><\/td>\n<\/tr>\n
Emkay’s Picks Nov-2013<\/a><\/td>\n+6.83%<\/span><\/td>\n<\/tr>\n
Ashwani Gujral’s Top 5 Picks – Nov 2013<\/a><\/td>\n+6.41%<\/span><\/td>\n<\/tr>\n
Microsec’s Diwali picks – 2013<\/a><\/td>\n+4.99%<\/span><\/td>\n<\/tr>\n
Kotak Securities’ Diwali picks – 2013<\/a><\/td>\n+4.31%<\/span><\/td>\n<\/tr>\n
Prabhudas Lilladher’ Diwali picks – 2013<\/a><\/td>\n+4.09%<\/span><\/td>\n<\/tr>\n
CS Midcap 28-Aug-2013<\/a><\/td>\n+4.02%<\/span><\/td>\n<\/tr>\n
Growth with Moat<\/a><\/td>\n+2.81%<\/span><\/td>\n<\/tr>\n
Betting on Bharat October-2013<\/a><\/td>\n+2.64%<\/span><\/td>\n<\/tr>\n
Prabhudas Lilladher Midcap 10-Sept-2013<\/a><\/td>\n+2.60%<\/span><\/td>\n<\/tr>\n
DB Rupee Depreciation 3-Sept-2013<\/a><\/td>\n+2.34%<\/span><\/td>\n<\/tr>\n
Globe’s Diwali Picks – 2013<\/a><\/td>\n+2.28%<\/span><\/td>\n<\/tr>\n
ADAG Mania<\/a><\/td>\n+2.25%<\/span><\/td>\n<\/tr>\n
Prabhudas Lilladher Largecap 13-Sept-2013<\/a><\/td>\n+1.14%<\/span><\/td>\n<\/tr>\n
Enterprise Yield<\/a><\/td>\n+1.02%<\/span><\/td>\n<\/tr>\n
Balance-sheet Strength<\/a><\/td>\n+0.78%<\/span><\/td>\n<\/tr>\n
Momentum 200<\/a><\/td>\n+0.50%<\/span><\/td>\n<\/tr>\n
Globe Monthly Monitor<\/a><\/td>\n+0.09%<\/span><\/td>\n<\/tr>\n
Financial Strength Value<\/a><\/td>\n-0.38%<\/span><\/td>\n<\/tr>\n
Market Fliers<\/a><\/td>\n-0.65%<\/span><\/td>\n<\/tr>\n
Velocity<\/a><\/td>\n-0.74%<\/span><\/td>\n<\/tr>\n
Market Elephants<\/a><\/td>\n-0.89%<\/span><\/td>\n<\/tr>\n
Magic Formula Investing<\/a><\/td>\n-1.81%<\/span><\/td>\n<\/tr>\n
Efficient Growth<\/a><\/td>\n-1.83%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
I think the take-way here is that forget about dedicated “Diwali” picks.<\/div>\n<\/div>\n

Should you have invested in ETFs, these are the returns over the same period.<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
BANKBEES<\/a><\/td>\n+5.11%<\/span><\/td>\n<\/tr>\n
PSUBNKBEES<\/a><\/td>\n+4.72%<\/span><\/td>\n<\/tr>\n
NIFTYBEES<\/a><\/td>\n+2.01%<\/span><\/td>\n<\/tr>\n
INFRABEES<\/a><\/td>\n+1.50%<\/span><\/td>\n<\/tr>\n
JUNIORBEES<\/a><\/td>\n+0.61%<\/span><\/td>\n<\/tr>\n
GOLDBEES<\/a><\/td>\n-2.82%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
Very little to talk about here except point out that during all three periods, gold<\/a> was the worst investment to make.<\/div>\n<\/div>\n

Conclusions<\/h3>\n

Well, three months is a very small window to draw any meaningful conclusions but here are some observations:<\/p>\n

    \n
  1. Quantitative Value<\/a> had 2 in the top 5 performers over the last 3 and 2 months. It is as close to “Investing Without Emotions” that you will ever get.<\/li>\n
  2. ETFs turned in some very meh returns.<\/li>\n
  3. Banks and mid-caps have been out-performing.<\/li>\n
  4. Gold lost its luster – but don’t tell that to Indian house-wives \ud83d\ude42<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    We have been tracking different investment strategies through our Themes – a handy way to create, track and allocate capital to different investment strategies. As our frequent readers know, we do a “doodh ka doodh pani ka pani” theme whenever analysts come out with portfolio recommendations. Add to the mix our own value and quantitative … <\/p>\n","protected":false},"author":2,"featured_media":1880681,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[2541],"class_list":["post-1880601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-your-money","tag-theme","entry"],"_links":{"self":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/1880601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/comments?post=1880601"}],"version-history":[{"count":0,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/posts\/1880601\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media\/1880681"}],"wp:attachment":[{"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/media?parent=1880601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/categories?post=1880601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockviz.biz\/index.php\/wp-json\/wp\/v2\/tags?post=1880601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}