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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Six Things to Ponder This Weekend

Comments

  • Hi Skeeter. I enjoyed the interview with Stanley Druckenmiller.
  • edited September 2013
    Charles,

    Thanks for stopping by ... and, I am happy to learn that you found value in the Druckenmiller interview. I think the post "Six Things to Ponder This weekend" pretty much sums up the headwinds that are facing both the fixed income and equity markets in the near term and perhaps even further out.

    Anyway, from my thoughts, it is indeed something to think on beyond the weekend.

    Skeeter
  • I've been waiting to get into L/S funds. That's I expect to be doing while rolling out of some traditional equity funds.
  • edited September 2013
    Hi VintageFreak,

    I have owned a few long short funds myself form time-to-time and some others that can also go short should the manage wish to follow this route.

    I currently own MFADX (Marketfield Fund). To me this is a fund that I am not sure should be in the long/short category as it can go most anywhere and short when the manage feels warranted. I have another fund that is in the large growth category and its ticker is SPECX. It can short when the manager feels a short is warranted and it mostly shorts securites that it owns that are felt to be overvalued and/or for defensive purposes.

    I could continue but the gem you are looking for might be found perhaps in another category.

    I hope this helps.

    Skeeter
  • I lack the technical ability and intellectual capacity to compare L/S funds against BBALX (for what looks like a good example); but, considering the ER of most L/S funds, how compelling are the L/S funds? Druckmiller's comments are frightening; he's been investing a long time, and I probably rank slightly above the caddy group of his comparison, but it seems one would have to have a big L/S commitment to have real protection against an abrupt downward mark to value.
  • edited September 2013
    Hi STB65,

    I have been thinking on your post about BBALX and I have no answer for you.

    However, I do have a good number of funds that can and do short but are not considered L/S funds. When you take a good number of these type funds that from time-to-time can and do short and put them together then in major downdrafts you have something.

    You might want to do this excerise and take the fund SPECX and use Moringstar's Instant Xay on it. Then in comparison take another LCG fund and under the performance tab veiw how each has faired compaired with each other during different market conditions. Ususally, SPECX will fair better in the downdraft periods against others while it may give up some on the upside, but not always. I have used AGTHX in the past as it is a fund that I hold and is widely held by others to do this comparison.

    The comparison will display in graph and chart from. To get the chart form you will have to scroll down below the graph to find it.

    Hope this helps.

    Skeeter
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