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Edit: Never mind, I didn't click on the pdf link for all holdings. It's at the bottom.
Not sure what to think about this action. From what I have gleaned out of Yellen's comments, rate are going to be low for quite some time to come. The Fed is maintaining their accommodative stance. One thing I have noticed as of late is that MAINX has leveled off when looking at a chart and perhaps the downtrend is over.
On FB I asked Counseulo how much EM (equity/fixed income) Teresa Kong would allocate to a 60/40 portfolio. Ms. Mack replied, "We will see." Peter Marber was also on Chuck Jaffe's Money Show recently. Mr. Marber suggested EM bonds to re-allocate from hot US equities and to get some yield compared to US debt. Similar to the Robert Arnot's comments on the Tiger 21 post.
i would think that being long emerging market debt and short similar treasuries is a basic trade hedging duration. she wants to get 'carry' from higher yields in Asia, not necessarily the duration risk. very common for higher yielding strategies nowadays.
I took the time to watch the Teresa Kong interview and while it was informative by itself, it didn't shed any light on the question in this thread. Let's see if Matthews responds to David's request.
I found this tidbit in the transcript of the managers roundtable webcast from Matthews.
"Just a quick word on the bond side―we have the full ability to invest across both U.S. dollar and Asian local currencies, in terms of the denomination of the bonds. We have moved pretty significantly away from local currency, since the inception of the Strategy. In November 2011 when we started the Strategy, we were at about 65% exposure to local currency bonds. Right now, we’re at just under 50% in local currencies, so typically, we want to express our views directly in the bonds themselves, but we do have the ability to hedge currencies when we want to, and we have selectively done so in the past."
That was on page eleven. Here is the link to the whole transcript.
Forgive my rookie question: Is this reference to "hedging" the same thing as "shorting?" I think not. But the information is helpful. My computer froze up and I did not listen to the FULL roundtable. THANK you.
Reply to @Crash: Maybe it depends on the reason for shorting. I always thought it was a form of hedging as in one hedging their bets. Then again, I'm getting older and definitions change.
Comments
Edit: Never mind, I didn't click on the pdf link for all holdings. It's at the bottom.
Not sure what to think about this action. From what I have gleaned out of Yellen's comments, rate are going to be low for quite some time to come. The Fed is maintaining their accommodative stance. One thing I have noticed as of late is that MAINX has leveled off when looking at a chart and perhaps the downtrend is over.
Regards,
Ted
http://wealthtrack.com/recent-programs/teresa-kong-peter-marber-opportunities-emerging-markets/
Peter Marber was also on Chuck Jaffe's Money Show recently. Mr. Marber suggested EM bonds to re-allocate from hot US equities and to get some yield compared to US debt. Similar to the Robert Arnot's comments on the Tiger 21 post.
David
Regards,
Ted
John McEnroe: Answer The Question;
Regards,
Ted
John McEnroe: Answer The Question
"Just a quick word on the bond side―we have the full ability to invest across both U.S. dollar and Asian local currencies, in terms of the denomination of the bonds. We have moved pretty significantly away from local currency, since the inception of the Strategy. In November 2011 when we started the Strategy, we were
at about 65% exposure to local currency bonds. Right now, we’re at just under 50% in local currencies, so typically, we want to express our views directly in the bonds themselves, but we do have the ability to hedge currencies when we want to, and we have selectively done so in the past."
That was on page eleven. Here is the link to the whole transcript.
http://matthewsasia.com/resources/docs/pdf/webcast/WC039T_Retail_Transcript_Final.pdf
Regards,
Ted
Frank Sinatra: When I Was Seventeen: