Portfolio manager Cale Smith on investing, Spoke Funds®, and Islamorada in the Florida Keys.

It’s official. Here’s my latest letter to investors discussing my expectations for next year, and here is how you can find out what companies we hold in Tarpon right now.

Thanks to everyone for all the support this year. And don’t forget about the annual meeting in January!

Disclaimer: This performance is highly unusual and cannot be sustained. Because the portfolio contains a limited number of companies, its returns will be more volatile than a portfolio investing in a higher number of stocks. Fund inception date 11/20/2008. Returns above are as of 11/20/09. Positive returns are not guaranteed. Individual results will vary depending on market conditions and investing may cause capital loss. The performance data is “net of all fees” reflecting the deduction of advisory fees, brokerage commissions and any other client paid expenses and includes the reinvestment of capital gains. The publication of this performance data is in no way a solicitation or offer to sell securities.

To receive a list of all companies held in the Tarpon Folio, please sign-up by clicking on this link. You’ll also be added to my firm’s email newsletter, which goes out once a month. You can opt out anytime. And here is IIM’s privacy policy.

Thanks!

Up 92.3% through the end of September. Next investor letter comes out tomorrow. Sign up here to receive it.

Disclaimer: This performance is highly unusual and cannot be sustained. Because the portfolio contains a limited number of companies, its returns will be more volatile than a portfolio investing in a higher number of stocks. Fund inception date 11/20/2008. Returns above are as of 9/30/09. Positive returns are not guaranteed. Individual results will vary depending on market conditions and investing may cause capital loss. The performance data is “net of all fees” reflecting the deduction of advisory fees, brokerage commissions and any other client paid expenses and includes the reinvestment of capital gains. The publication of this performance data is in no way a solicitation or offer to sell securities.