Elizaville Partners Monthly Letter October 2015

Elizaville Partners Monthly Letter

November 5, 2015


To: Limited Partners in Elizaville Partners LP
From: Max G. Ansbacher, President, Ansbacher Investment
Subject: October 2015 Performance

Elizaville Partners had an average net estimated gain in October of 7.61%. This brought its average year-to-date gain to 18.96%.
 
The S&P 500 Stock Index gained 8.3% in October for a year-to-date gain of 0.99%.   

October proved to be a very accommodating month for our strategy, with the S&P 500 notching its greatest monthly point gain in history, and greatest percentage gain since October, 2011. While we were able to produce a gain of 7.61%, our second highest monthly gain of 2015, the steep increases the S&P saw in October made it difficult for us to keep pace with the index. No matter. We are pleased with our performance, and would rather underperform slightly than take on increased risk in an attempt to keep up. 

In a major move for our firm, I have decided to promote Laurence Goellner to the position of Executive Vice President. Laurence has been with our firm since 1997, and for many of those years has been my protégé. He knows our strategy inside and out, and has been directly involved in its implementation for some time. While I have been the sole decision maker when it comes to trading, Laurence has been my confidant, and has exercised great influence over daily trading decisions. With this promotion, I will still be steering the ship, but under my supervision Laurence will now have the ability to implement our strategy. I have all the confidence in the world in his ability to outperform in this new role, and all of our investors should share my enthusiasm.

This move, along with the addition of my nephew Chuck Ansbacher to our team last year, is designed to ensure the existence of our firm long into the future. While I am not going anywhere and have no plans to do so, as I get on in years, I am somewhat less active than I used to be. I understand the need to keep our operation vibrant and nimble, and to begin the process now of planning for what I hope to be the distant future.