EFTA02639788.pdf

From: Paul Barrett Sent: Friday, June 8, 2018 1:37 AM To: jeffrey E.; Richard Kahn Subject: RE: As of today this is where we stand: Since Inception (10/17): +$4.015MM (+2.47%) 2018 YID: +$1.196MM (+0.72%) Of the $4.015MM gain since inception, —$1.6MM has come from your stocks (mostly FMI), $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 EFTA_R1_01872358 EFTA02639788 • 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 FICC $71,864,748 43% Equities $84,436,847 51% Cash $14,568,547 9% $166,149,139 2 EFTA_R1_01872359 EFTA02639789 Paul Barrett Alpha Group Capital LLC From: jeffrey E. <[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 inn 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 3 EFTA_R1_01872360 EFTA02639790