Baidu (BIDU) The Largest Holding At Mistral Capital Partners

67 WALL STREET, New York - August 2, 2011 - The Wall Street Transcript has just published its Investing Strategies Report offering a timely review of the sector to serious investors. This special feature contains expert industry commentary through in-depth interviews with Equity Analysts and Money Managers. The full issue is available by calling 952-7433 or via The Wall Street Transcript Online.

Companies include: J.C. Penney; Raven Russia; Alam Sutera; Amata; Apple; and many more.

Mr. Cover: We think innovation, energy, industrial and consumer discretionary are the best positioned right now. We as well think there are certain areas within health care that are so then positioned, and within these industries we are focused primarily on growth companies or companies that are going to benefit from a specific trend. An example in the research area is cloud computing. Companies in its entirety are aggressively moving their innovation infrastructure to the cloud, which means that they are moving towards a server-based environment, which helps reduce their overall IT costs where they can in substance outsource a lot of the expense to other firms. In short companies that are benefiting from that are operating in the cloud. VMware would be a specific holding in our portfolio in other words a beneficiary of the cloud.

We have as well owned Salesforce.com in the past. In the consumer discretionary area, we like companies that have unparalleled products. One example would be SodaStream, which is a product that's as a matter of fact been around for a during in Europe, however recently launched in the U.S. market. The CEO has a very strong consumer background - Nike, Pillsbury - with very strong relationships at key retail chains in the U.S. The product is one of Bed Bath And Beyond's best-selling products. The company has a razor - SodaStream system - razor blade, CO2 refill, syrups, business model with very high gross margins. The product is fantastic and is seeing exceptionally good growth here in the U.S. The SodaStream product is already proven in Europe, having attained market share of greater than 50% in certain regions.

Mr. Cover: Currently, our largest holding is Baidu. Baidu is the market leader in internet search in China. Think of it as the Google of China, except that they have substantially higher market share, and it's a growth company. They are benefiting from what is a very important tailwind of the enormous consumer base in China and the population's trend towards getting connected to the Internet.

Mr. Cover: Year to date we're up 7.2% through June. That compares with 6% for the S&P 500 and 0.4% for the long bias hedge fund peer group. We've added value at both long and short in our book, and the performance contribution has come most notably from innovation, energy, materials, consumer and health care.