Featured Posts

GENERAL ADVICE WARNING: The information on Countinghouse’s website and other documentation contains general information and does not take into account your personal objectives, financial situation or needs. It is important, before deciding whether to take or use Countinghouse services or products (or, if you are already a Countinghouse customer, to continue your use) that you consider all the Countinghouse documentation (including our Risk Warning) having regard to your own situation. Countinghouse is not a financial advisor and all services are only provided for professional investors or wholesale investors. Please consider our Risk Disclosure Statement and legal documentation and ensure that you fully understand the risks involved in light of your personal circumstances before you decide whether to acquire our services. We encourage you to seek independent advice if necessary.

Weekly Update Report #37

March 1, 2019

 

From The Fund Manager

 

Dear Investors,

 

It’s been a strong weekly performance for the fund. This is off the back of four really good moves. Unfortunately, some of the profits were lost due to a higher number of failed hedges than usual. It always a little frustrating to know we could have done better. Again, this is just the nature of trading, and you can’t win every single trade.

 

The new project is coming along but will still be a few months before all the structures and licencing are ready. Once this is ready, our offering will be unveiled with all the relevant materials for your consideration. We are also looking into the possibility of allowing CHT to invest in the new fund, making it easier for existing CHT investors to be able to opt into splitting some of their CHT holdings over the two funds. This is all on the drawing board and is not yet finalized. We will keep you up to date on this as all the pieces come together.

 

The new office is almost ready for us to move in to! Just some cabinet makers coming in and some final electrical work to be done. There will be some work ongoing once we have moved in but the necessary parts are almost completed. I would hazard a guess at it reaching completion by the end of next week… We are all hopeful and quite excited!

 

The XRP trading pair is soon to go live at normal risk levels. This adds a bit more opportunity for the fund and the potential to actually lower the risk ever so slightly. I look forward to present to our investor community, the statistical analysis of having this third trading pair. However, this won’t be arriving in the immediate future, as our work load is too high for us to produce auxiliary reports at the moment. That being said, we do want to present this data at some stage as it has relevance to us progressing the potential of the fund and I know that particular investors will find it interesting. The positive results from XRP testing does open the door to testing more possible pairs. We are excited about the potential of this, but for similar reasons to the stats report on XRP being delayed, we will have to put this on the back burner just for the time being.

 

With all the restructuring of Countinghouse to move toward a more strictly regulated and governed model, some changes have started to take place. Some investors may have noticed our email correspondence using fixed templates and auto responses. This is to both help handle the inflow of communications and to help ensure that we are only giving information in a strictly compliant way. In implementing this, we would also unfortunately lose a lot of the warm, one on one experience that investors, particularly on our Telegram channel, are used to with Countinghouse communications. This would reduce human errors and allow us the time to tread carefully and make sure we are not just saying what we think, but we are checking that it is fully compliant with the new entity structures that we are moving the fund towards. As with all changes, there may be a few errors or teething issues.

 

There are a lot of great things coming just around the corner and it is going to mean a more structured, governed and professional Countinghouse. This has been something many investors have wanted us to move towards, and we have been listening. For investors who have enjoyed the more relaxed and personal style of the fund management, we will still try to keep some of the warmth and personality of the Countinghouse that you are used to, but once the restructuring is complete, I don’t think we could still claim to be the Punk Rock of hedge funds.

 

Thanks once again for taking the time to read the report. May the coming week be another week of profitable high volatile trading!

 

Have a safe and happy weekend.

 

 

Tim Dawson

Fund Manager
Countinghouse Fund

 

 

 

Weekly Performance

 

 

Market Activity Summary

 

Market Data Source: Thanks to @BazzWatkins

 

Photo Credit: Sweet Ice Cream Photography on Unsplash