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Whitebox has thought small caps overvalued for some time. And Mr. Cinnamond is holding 64% cash currently in ARIVX...really wish the good folks at ASTON would address the 5th "P":
ARIVX an absolute dog of a fund with terrible returns the past year compared to its peers. I know, I know, the academics say give a fund a few years before throwing it to the curb. That's hogwash! One year returns DO count and most especially in years like 2013. I am more or less (less than more) retired from the investment/trading game and I can tell you one year returns do count. My retirement nest egg would have been adversely impacted had I missed any of the bigger percentage gains years of the past ala 91,95, 98, 99, 03, 09 and so on. 2013 has been one of those can't miss years for the younger crowd here and even if you are an old timer the 5% returns of ARIVX just don't cut it.
Reply to @Junkster: As Jack Webb use to say on Dragnet, "Just the facts ma'am". 5.44% (ARIVX) vs. 28.40% for the category YTD, and 5.07%(ARIVX) vs. 32.85% for the category 1-Year returns. A $10,000 investment one year ago at 5.07% vs. the category return of 32.85%, you do the math. Regards, Ted http://www.marketwatch.com/investing/fund/arivx
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Regards,
Ted
http://www.marketwatch.com/investing/fund/arivx