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Whitebox 2Q Results and Commentary...Just Received

CharlesCharles
edited August 2013 in Fund Discussions
Here are links to updated fact-sheets for Whitebox Tactical Fund WBMIX and Long-Short WBLFX.

Here's link 2Q Commentary.

Quick notes: The Great Rotation Begins. Premature accumulation of gold miners, but holding on because under-valued. Short Apartment REITs. Long Financials and Specialty Financials. Short Fixed Income. Long Quality Blue Chip. Short Consumer Staples. Long-Cap Over Small-Cap. Long Airlines and Automotive. Use of straddles as hedge against volatility.

Intriguing, as always. And, I appreciate their articulation of good/bad past performance and of strategy and positioning going forward.

And, from fact-sheet: Interesting that WBMIX now using long-short peer group, if not formal benchmark.

Here's look at YTD performance using M* chart:

image

Not bad.

BTW. Not a peep yet on 2Q performance from AQR.

How does WBMIX compare with AQRIX, or another favorite, ARLSX YTD?

image

Comments

  • CharlesCharles
    Updated to reflect 2Q Commentary.
  • ron
    What does wbmix do that splv doesn't?

    image
  • scott
    Reply to @ron: Two entirely different funds. One is a long-short fund that can go long/short both equities and fixed income. The other is a long-only fund.
  • CharlesCharles
    edited August 2013
    Reply to @ron: I like SPLV. But I'd say WBMIX is better hedged against downside. SPLV is a bit young to experience...and so is WBMIX for that matter. Thoughts?

    image
  • scott
    edited August 2013
    Reply to @Charles: "But I'd say WBMIX is better hedged against downside" SPLV does not do any hedging.
  • CharlesCharles
    Reply to @scott: Yes! Hear Scott.
  • scott
    Reply to @Charles: They're both fine choices, but different from a risk perspective and otherwise.
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