1. *This document is not intended as, and does not constitute an offer to sell or solicit any person to purchase securities. Any mention of securities named in this document is neither a recommendation
nor a solicitation. No person should rely on any information in this document, but should rely exclusively on the offering material when considering whether to invest.
*All performance figures noted above are gross numbers, the numbers do not include any management fees or expenses.
Michael Corcelli
40 SW 13th Street
Miami, FL 33130 MC@alexanderalternativecapital.com
Special Situations Strategy
Investment Strategy and Approach
Alexander buys and sells US Equities and Listed Equity Options using a macro top down view to identify growth drivers and risk
factors that cause significant price fluctuations over a 3 month to 3 year cycle. The strategy focuses on isolating risk factors and growth
drivers to specific sectors, industries and/or macroeconomic trends. Our investment team then uses bottom up fundamental analysis to
drive security selection. After security selection, a concentrated book is created of best ideas both long, short, or both. We manage risk
by aligning the portfolio, macroeconomic themes, growth drivers, risk factors, security selection and positive expectancy to deliver
asymmetrical outsized returns per unit of risk. The baseline for each investment is an asymmetrical return profile of $3 dollars of profit
for each $1 dollar of potential loss.
$900,000
$1,000,000
$1,100,000
$1,200,000
$1,300,000
$1,400,000
$1,500,000
$1,600,000
2014
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Return on a $1M Initial Investment
Alexander S&P 500
2014
2015
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
AAC 14’
S&P 14’
0.13
(3.56)
0.76
4.31
(0.19)
0.69
1.75
0.62
1.59
2.1
15.11
1.91
1.32
(1.51)
6.95
3.77
11.7
(1.55)
1.18
2.32
4.55
2.45
0.52
(0.42)
54.21%
11.54%
AAC 15’
S&P 15’
(0.02)
(3.10)
1.01
5.49
0.03
(1.74)
1.29%
0.44%
Tel: 305.379.4200 | Fax: 786.425.3905
Trading Strategy Abstract
Manager Name:
Program Name:
Inception Date:
Minimum Account:
Management Fee:
Incentive Fee:
Michael Corcelli
Special Situations Strategy
1 – Jan – 2014
$250,000
Variable
Variable
No. of Employees:
Perform Hurdle:
High Water Mark:
Entry Dates:
Exit Dates:
Lockup:
Tax Sensitive:
5 FT
No
Yes
Monthly
Monthly
No
No
Program AUM:
Investment Type:
Trading Style:
Prime Broker:
Auditor:
Attorneys:
$1 Million
Managed Accounts
Dynamic
Barclays
Demetrius, Berkower
Pillsbury, Winthrop, Shaw,
Pittman, LLP
Performance Analysis Performance
2014
Absolute Return
Sharpe Ratio
Avg. Monthly Return
2015
Absolute Return
AAC
54.21%
3.1
3.78%
1.29%
S&P 500
11.39%
0.74
0.93%
0.44%
Intra-Month - 2014
Max Drawdown (Oct)
Final Return (Oct)
Trading Stats - 2014
Profitable Weeks
Profitable Trades
-6.49%
1.18%
37/52
72.6%
$1,562,086
9
$1,122,099