Second Quarter Track Record Continues
Purple Chips second quarter trades continued to build value with a strong track record. During the last three months we closed out 7 total names equivalent to fully one third of our total portfolio. We also took the opportunity to initiate positions in another 6 companies cycling approximately one quarter of the total funds. Weighted average total return for each trade completed during the quarter was +16.2% and we held them each for an average of 8 months.
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Leading the pack this quarter, we exited the last Canadian Bank we were holding at a high valuation and generated a +30.2% Total Return
Two medical equipment manufacturers Edwards Lifesciences (EW) and ResMed (RMD) were sold generating returns of +28.8% and +21% respectively.
Finally, despite naysayers, we closed out our timely position in Apple Computer (AAPL) with a gain of +23.4% in just four short months.
