13.03 -0.31 (-2.4%) Sell

Prayers for LMRK investors as it ranked among the worst performers

13 min read

LANDMARK INFRASTRUCTURE PARTNERS LP ranked among the worst performers on Thursday. It delivered -2.4% to close at 13.03. On a day when the overall market breadth was 35%, it closed higher than 77% of the market. In comparison, the benchmark SP500 index closed today at -0.0002%.

[Themes containing LMRK]

Buy-and-Hold investors in LMRK experienced a maximum drawdown of -15.8% over the last three months. It delivered -1.66% during this bearish trending period. There were both Long and Short signals during this period, where the short signals were marginally more profitable than the long signals.


LMRK has been outperforming the SP500 index in recent time. It showed significant underperformance (compared to the SP500 index) from 9 Sep, 2016 to 21 Sep, 2018. Over the last 2 years 11 months and 9 days, LMRK underperformed the SP500 index on 50% days. Which indicates that on days LMRK underperforms the SP500 index, it's performance is marginally worse than on the days it outperforms the SP500 index.

During the last three months LMRK was mostly profitable and delivered on average -0.0% per day. It's best return during this period (of +4.85%) was on Tuesday, 13 Nov, 2018. While it's worst loss in the same period (of -8.17%) was on Wednesday, 7 Nov, 2018. The longest stort-term trend during this period was 5 profitable days, which started on 29 Nov, 2018 and went on till 6 Dec, 2018. This bullish trend returned +5.45% to investors.

The last 12 months saw LMRK's investors making profits in 3 months and incurring losses in 9 months. LMRK was less consistent in delivering monthly returs than SP500 index. LMRK was also a more risky investment than SP500 index as it's worst month in the last year, Apr 2018, returned -11.14% compared to -7.28% returned by SP500 index in Oct 2018. LMRK had a longer winning streak of losing months than SP500 index. It went down in 5 straight months (from Jan 2018 to May 2018) during which period it delivered -29.78%. It is interesting to note that both LMRK and SP500 index significantly outperform during months when quarterly/annual results are announced.

Here's my gift-giving rule: Respect your current financial situation.
-- Suze Orman

LMRK is currently seeing overall fall in volatility. In comparison, the SP500 index is seeing increase in volatility. During the last three months, there was a significant surge in LMRK's volatility from 18 Sep, 2018 to 8 Nov, 2018. While there was a significant surge in the SP500 index's volatility from 14 Sep, 2018 to 29 Oct, 2018.

Advanced/professional short-term investors should note that LMRK has significant positive skewness in it's return distribution. This indicates that investors can expect LMRK to recover from drawdowns quickly. Which makes LMRK a good candidate for investing on short-term bullish trends or even counter-trends hoping for a pull-back.

SP500 index has more chance of extreme outcomes than LMRK. Therefore, SP500 must receive a lower allocation than LMRK in your portfolio. SP500 index usually has shorter drawdown period than LMRK.

On a general note (since you are interested in LMRK), if you are evaluating LMRK as an investment candidate, then you should read about PICO which has delivered similar performance and can help diversify your portfolio.

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