EFTA02640899.pdf

From: Paul Barrett Sent: Friday, June 8, 2018 12:09 PM To: jeffrey E. Cc: Richard Kahn Subject: Re: OK. Let me know if you have time today. Paul Barrett Alpha Group Capital LLC 142 W 57 <x-apple-data-detectors://0/1> th <x-apple-data-detectors://0/1> Street, 11 <x-apple-data-detectors://0/1> th <x-apple-data-detectors://0/1> Floor, New York, NY 10019 <x-apple-data-detectors://0/1> 646-876-5277 <tel:646-876-5277> (o) 646-342-6930 <tel:646-342-6930> (c) mailto On Jun 8, 2018, at 5:33 AM, jeffrey E. <[email protected] <mailto:[email protected]> > wrote: lets talk about it. your compensation must reducethe return. ? the positions are silly . . I want to clean it up today or monday. . I take some responsibliyt for not monitoring you most (closely the ge position was an amateur play very . On Thu, Jun 7, 2018 at 9:36 PM Paul Barrett <mailto > wrote: As of today this is where we stand: Since Inception (10/17): +$4.015MM (+2.47%) 2018 YTD: +$1.196MM (+0.72%) EFTA_R1_01874530 EFTA02640899  Of the 54.015MM gain since inception, — $1.6MM has come from your stocks (mostly EMI), $620K from my trades and the balance from interest received on bonds I recommended prior to joining plus any equity dividends. Trades Initiated by me: - Equities: $780,249 - FICC: $-238,953 — excludes interest on bonds I recommended prior to starting (—$1.6MM). Lost $1.2MM on Argy FX and bonds. - Loan Funds: $76,892 I am also unhappy with the performance. Mistakes I have made: • Not sizing my highest conviction ideas correctly • Not keeping tight enough stops on my big losers (GE, Argentina). 3 worst trades down around $3MM total (GE still open). • Deviating from my core themes • Not owning enough of the market leaders (why have only a 1% position in AMZN??) Changes I have recently implemented: • Fewer positions going forward • Size positions in % terms rather than USD amounts • If it does not fit within a core theme then it is either in cash or ETF placeholder. I still think Q4 will see most of the returns for this year and plan to ramp up my equity exposure going into Q4. Paul Consolidated Portfolio 2 EFTA_R1_01874531 EFTA02640900 FICC $71,864,748 43% Equities $84,436,847 51% Cash $14,568,547 9% $166,149,139 Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 646-876-5277 (o) 646-342-6930 (c) 3 EFTA_R1_01874532 EFTA02640901  From: Jeffrey E. <[email protected] <mailto:[email protected]» Sent: Thursday, June 07, 2018 7:40 PM To: Paul Barrett >; Richard Kahn Subject: i have gone through lots of the trades. not very good at all please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by 4 EFTA_R1_01874533 EFTA02640902 return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 5 EFTA_R1_01874534 EFTA02640903