Congratulations and welcome back to the top ranks! I will lock in the 7/20 closing price of $40.93 for SRPT.GoldenFinch wrote:Tanelorn, please sell my position in SRPT as of closing price today 7/20. Commonwealth of Buckaroo Dough Holdings has bounced in and out of the top ten and wants to stay there this time. I'm risking that it might tank by the end of the day, but this is a very risky hedge fund causing share holders a lot of anxiety.
GoldenFinch's sole biotech pick Serepta Thereputics soared on Thursday when quarterly earnings showed 50% higher sales than expected and guided for continuing higher revenues going forward. The company's very expensive MS drug was controversial at $500k/year in cost, but was approved by the FDA (in a controversial process as well), and is showing quite good health outcomes for patients.
Her fund is now comfortably in the money, with 36% returns for the year and currently in 2nd place overall. She and her Buckaroo investors can spend the rest of the year enjoying their success and looking for / forward to her next big winner for the 2018 contest.
current standings - 2017 hedge fund contest
Fund manager themesrob was the only other contestant to chose Serepta, which is among three drug company long picks in his Rozay Advisors portfolio for this year. His more diversified portfolio continues to hold SRPT, which notched up additional gains on Friday (up 44% currently YTD, vs 36% on Thursday). Rozay Advisors are up 11% for the year.