Valiant Pharma & Transport

Focus is set mainly on small-cap pharmaceutical and transport enterprises. In the sector transport mainly shipping companies will be bought. Most companies will be from the US. Strong drops shall be used for a join to the portfolio. Volatility could be high compared to high-cap strategies. Every position should be below 15 percent of the portfolio. Because the focus is set on low-caps the spread will be high. That is a result of the low liquidity of the certain stocks. It is tried to trade daily to get good prices from drops of NASDAQ or NYSE traded companies. NO derivatives are used.