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Started a position in Tactical Opportunities (which can short - for example, the fund earlier in the year: "From early February through late April, we held equity put options notionally equivalent to about 60% of our long equity positions. (In other…
The last time I looked I believe the fund was effectively market neutral. I guess I still don't get the idea of having Hussman's views and owning growthy things like Panera and hedging that out. I think what's kind of curious is that Hussman's stoc…
Reply to @romroc: "My son is a banker at HSBC who thinks the market is set to tank."
hmmm....
(Oh, and I highly agree with MikeM's choices a couple of posts up.)
Reply to @ducrow:
Happy to help! Some thoughts
1. New fund. A hedge fund may not always translate to a good mutual fund. See NARFX (which was sold and turned into another fund.) Not comparing management of NARFX to this fund or anything, but I su…
As for that last link, you could always invest in a stock with the ticker symbol RICK.
http://finance.yahoo.com/q?s=RICK
On a serious note, Telecom/Media is an interesting way to play. On a more serious note, trying not to think of all the good th…
Reply to @AndyJ: I suppose I think of them somewhat as a very modern, actively managed version of Permanent Portfolio, with a global scope. Not an apples-to-apples comparison really, but just offering sort of a way to view them.
"Our tactical over and under-weights around the risk parity framework use the same models used in our global macro hedge funds and include signals based on momentum, valuation, carry and other important economic variables."
There is a lot else, as …
Reply to @AndyJ: Looking at the portfolio and fact sheet, the Invesco fund (NOT saying it's not a good fund or implying anything) is commodities/govt bonds/equities versus the AQR fund, which invests in global TIPs, commodities, equities, credit, cu…
Reply to @Old_Joe: I suppose it's a matter of disappointment in regards to the current administration in regards to their handling (regulation, trying to actually make sure that things like MF Global are not tolerated instead of ignored because the …
I think there is interest in mobile payments - Verifone (PAY, although I don't particularly care for the company with what moderate amount I've researched), Ingenico (INGIY.PK, barely traded), Starbucks (SBUX) with their recent investment in Square …
FEO (Aberdeen First Trust EM) remains an interesting EM balanced fund, although it is a bit leveraged. It does provide a very nice yield (over 6%), although continues to sell at a discount to NAV. Pimco's multi-asset EM fund (PEAEX) has been complet…
The different volatility level funds are interesting (the LV commodity fund still hasn't come out yet, but was announced), but I think I'll stick with the standard AQRNX. Thank you for posting, though (and I'd guess they're feeling the Risk Parity f…
Reply to @BWG: I don't think it's an apples-to-apples comparison to either fund really, but I think I wanted to lean towards MFLDX to give a more likely sense of volatility. PMHIX has been - aside from a somewhat bumpy start - an enjoyably sleepy/lo…
Reply to @Investor: Yes, thanks, I was more concerned with giving background and additional links regarding management and the fund company at the time.
As for fund tickers, hopefully the fund will not be another NARFX - although Whitebox as a hed…
Reply to @hank: Well put. I think you're seeing institutional investors look for other sources of income beyond fixed income, as well - infrastructure continues to seem as if it's getting increasing interest, and at least that's a combination of cas…
Reply to @Old_Joe: Yeah, I think hedging is really a balancing act and it's difficult. I think his discussion of out of the money put options is particularly interesting and options are something I've considered trying at times. El-Erian has discuss…
The hedge fund also has a separate website: "Whitebox Selected Research", where they highlight recent investment articles of interest and contribute some of their own writings.
Link: http://www.whiteboxselectedresearch.com/
The Whitebox Advisor ar…
Reply to @perpetual_Bull: Sometimes I literally go through fund family after fund family, looking for funds that are unique/unusual, grab the interest in some way. Sometimes oddball is just oddball (or interesting but problematic in some way - see J…
Reply to @BWG: 2007 profile of manager and fund: http://dealbook.nytimes.com/2007/10/03/a-hedge-fund-that-saw-what-was-coming/
Recent article by manager re: Nat Gas
http://www.forbes.com/sites/steveschaefer/2012/05/31/why-it-might-finally-be-time-f…
I think money has been moving into equities at a moderate pace (if it's money moving out of fixed income and into equities, something of a contrarian indicator), although quite honestly, I've been looking around a lot and am not finding what I would…
Chinese growth is slowing and disappointing and the growth of the last ten years is slowing down. He says the Chinese market has done terribly, but the good companies are not yet inexpensive (and he doesn't say it, but I'd guess they are not cheap p…
Thank you all so much for your kind words! I greatly appreciate it and am always happy to try to help. I also added to Risk Parity (AQRNX) recently, as it continues to be a nice, consistent performer and not tightly correlated to the movement of the…
Reply to @Mark: I agree with you entirely. Berkshire is really a good idea in that realm for someone who does not want to monitor too much. I think some of the subsidiaries have become somewhat dated and Berkshire remains very US-centric in a very g…
Reply to @Mark: A couple of somewhat "Berkshire-like" vehicles (no particular order)
1. Greenlight Re (GLRE). This is a reinsurance company where the float is invested with the same positioning as hedge fund manager David Einhorn's long/short Green…
AQRNX is available for less of a minimum at some brokerages - Ameritrade is one, and I believe another poster said another brokerage had it for less than $1m, but unfortunately I can't remember at the moment.
You may be able to invest with hedge fu…
Reply to @Dian: To throw something out there, it's understandable the tax benefits of munis, but I think in terms of "preservation is the key", I think over the next decade, it's really going to be a matter of diversification globally, whether it be…
So happy to be of help! :-)
A few minor notes/clarifications:
The adviser's fee is partially performance based and partially a standard fee (it's definitely not "hedge-fund style" 2% and 20%, but it is similar in that there is a standard managemen…
SocGen also sold their stake in the Rockefellers to the Rothschilds.(http://dealbook.nytimes.com/2012/05/30/rockefeller-and-rothschild-banking-dynasties-join-forces/)
To some degree, it's probably the European financials having to puke up assets to…
If it was me (and keep in mind this comes from the perspective of someone younger trying to put themselves in the shoes of someone older)
No particular order:
1. Pay off debt (if any).
2. This is going to depend probably on age (in terms of what …
I don't think there's anything like it - I owned it for a time late last year/early this year. It's a very odd (and I mean that in a good way) little fund, run by the former manager of Pimco Commodity Real Return. It's a tiny little absolute return …
Reply to @CathyG: I know E-trade/Ameritrade have it with no fees, but E-trade makes it particularly easy - you go into a section and just check what you want to have reinvest and click submit, then it is approved or not (although most US stocks shou…
