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Weekly Update Report #31

January 18, 2019

 

From The Fund Manager

 

Dear Investors,

 

We’ve had a good solid week this week. Most of our profit was made on three larger moves in the market and two of these moves had more than one trade on them per pair (2 down and 1 up). However, there were also more loss trades than usual this week, but fortunately they were only small losses. All said and done, it was a great first week back to the office for me.

 

Speaking of offices, our new office has been hitting some delays with waiting for tradespeople and the existing air conditioner needing fixing/replacement. At the moment we are in the summer in Adelaide, and that means 40+ degrees Celsius (104 F for our US friends) days are too common and air-conditioner installers are stretched thin. So at the moment, movement on the fit out has slowed down.

 

Like all Fridays at Countinghouse, today is a Fun Friday and we went to a winery for lunch, whilst also meeting our auditors there. The plan was to discuss how much extra details will be included in the audit. Normally an audit paper is simple, simply outlining the findings and what particular compliance standards it meets or fails. Now, of course our audit will also include this. However, I have been stressing to the auditors and I have shared my opinion on these reports earlier, that I want this audit not just to confirm what we already know, but to actually be value adding to the experience of our investors. Tom from Every understood exactly what we meant and as such just wants to meet today to make sure we publish something we think meets this criteria.

 

At this point, I would love to introduce our newest team member, Mr. Kym Pedler, who has come on board to work with us on our new project. Kym brings a wealth of experience and valuable contacts in both industry and government. Kym has spent the past 18 years in business incubation and acceleration projects and his success has been recognised nationally with him receiving the highest awards from the Economic Development Board. Kym’s skill-base and well established network are going to be key assets in the new project. You will see more from Kym as time progresses.

 

Thank you for taking the time to read this week’s report. The whole team would like to wish you a safe and happy weekend.

 

 

Tim Dawson

Fund Manager
Countinghouse Fund

 

 

 

Weekly Performance

 

 

Market Activity Summary

 

Market Data Source: Thanks to @BazzWatkins

 

Photo Credit: 

Pablo Heimplatz on Unsplash