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@Mark, QLENX seems to have a pretty impressive track record when comparing trends to the L/S fund I own, QQMNX. I'm happy with QQMNX. QLENX does seem to take advantage of rising markets more so than QQMNX. Not sure what that means other than it may be a bit more aggressive.
@MikeM: Thanks. Just the kind of info I was looking and hoping for. The rising markets comment gives me a bit of a pause however. I think I'll wait a bit before jumping in. I'm uneasy over what we might be looking at over the next 30-days and beyond.
@hank WEA interesting. Big "cash" position, but looks like a ton of shorts, there. CEF. The predictability of monthly pay-out is a plus, from where I sit.
@hank WEA interesting. Big "cash" position, but looks like a ton of shorts, there. CEF. The predictability of monthly pay-out is a plus, from where I sit.
From its daily behavior I think WEA does carry shorts - probably at the long end. But the fund (a CEF) is about 30% leveraged. I think that leverage represents the bulk of its sizable short cash position (essentially borrowings). I’ve owned this one (and the 3 other funds mentioned) in the past. For me a case of going with ”the devil you know”.
I’d be loath not to add that WEA was managed until recently by Western Asset’s Ken Leech who resigned under a cloud of suspicion. Complicates the equation for anyone considering buying the fund.
Yes, the House finally passed a CR. Senate expected to vote soon after. Then Prez needs to sign. I suppose we are in the clear... for now. Federal spending is out of hand, anyhow. Not buying, just riding the roller coaster. Dramamine required.
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Bought 250 NVO on the massive plunge today. Will be a candidate to add on lower prices over time.
I’d be loath not to add that WEA was managed until recently by Western Asset’s Ken Leech who resigned under a cloud of suspicion. Complicates the equation for anyone considering buying the fund.
Let’s hope an agreement will reach on time until the next Continuing Resolution vote.