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M*: Does Longleaf Partners' Closing Signal A Market Top?: Video & Text Presentation
Why would you pick one fund to make this argument one way or the other? Since when did Longleaf Partners closing become the harbinger of good or bad returns? And if it doesn't why write this article? Why wouldn't a fund close in a bull market when it is fully invested because of rising assets, and why would it say anything about what the markets are going to do in future?
The question is asked, and the answer is "kind of". And then "it is just one indicator", then we go into hindsight discussion about how its closing affected the market, and it has a "mixed record". So we can make exact same argument based on when the fund stayed open, or any other fund that closed or opened.
Does sunset before 7pm suggest markets will rollover? Some may be depressed by darkness but don't take it as an indicator market will fall tomorrow. I think sunset after 7pm also is a "mixed indicator", sometimes market will fall the next day, sometimes it won't. The sun is very consistent about setting at 7pm but let it necessarily not tell you tomorrow, market will fall - Idiotus Maximus.
Comments
The question is asked, and the answer is "kind of". And then "it is just one indicator", then we go into hindsight discussion about how its closing affected the market, and it has a "mixed record". So we can make exact same argument based on when the fund stayed open, or any other fund that closed or opened.
Does sunset before 7pm suggest markets will rollover? Some may be depressed by darkness but don't take it as an indicator market will fall tomorrow. I think sunset after 7pm also is a "mixed indicator", sometimes market will fall the next day, sometimes it won't. The sun is very consistent about setting at 7pm but let it necessarily not tell you tomorrow, market will fall - Idiotus Maximus.
Thanks for catching this one...I didn't see it.
http://longleafpartners.com/sites/default/files/categories/Documents/Longleaf-Partners-Closed-to-New-Investors-06092017.pdf