22 December 2016: Most analysts got it wrong

top-flopTwo brothers who are into finance, Dirk and Willem Gerritsen, carried out their yearly research exercise in which they investigate the performance of stocks which received a positive or negative advice from analysts during 2016. Dirk is a an assistant professor at Utrecht University and his brother is a self-employed data analist. The brothers included investment advice from analysts who are employed by well-known firms such as Jefferies, Credit Suisse, J.P. Morgan and Deutsche Bank. It turned out that the stocks which got thumbs up from the analysts performed 4% worse than the average of the market. Stocks which were advised against by them, did in fact 11% better than the market average. Monkeys picking stocks were not included in the exercise.

white-chapel-logo-smallYesterday, the Dow got as high as 19,986.56 points, but failed to reach 20,000. All major US indices ended the day with small losses, ranging from -0.16% for the Dow to -0.25% for the S&P 500. Volatility did not rise, with the VIX getting as low as 10.93 points intraday. The fear index ended 1.6% lower and our UVXY ETFs lost another 3%. Return for the year for White Chapel dropped to 253%. Return for the quarter is just above 15%.
White Chapel did not give a signal at the end of yesterday’s session. We hold our UVXY ETFs.

Accumulated capital at close of previous trading day

Return since start

Return this year

Return this quarter





Our initial capital was $10,000 at 1 January 2016. Our average Annual Return is 270%.

silhouetten these dutch guys kleinYesterday, on the shortest day of the year, the European Short Film Day was celebrated. More than thirty film venues in the country offered a selection of short films. Like Gratis by Merijn Scholte-Alberts and Tobias Smeets, winner of the Golden Calf for the Best Short Film, and the award-winning Import by Ena Sendijarević, the Dutch submission for the Oscars in the category Live Action Short Film.
These Dutch Guys decided to participate for the second time in a row. From the many cities they could choose from, they picked Eindhoven, only to find out after arriving, that the local theater only showed the children’s programme. One of the benefits of living in The Netherlands is the small distance between major cities. Twenty minutes after leaving Eindhoven, they arrived in the city center of Den Bosch, where the Verkadefabriek showed the short films they came for.

gratis_still1Still from Gratis