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Mining The Short Side: (BIVRX) + David Snowball's & Andrew Foster's Interview With Chuck Jaffe

FYI: (For those of you who missed this in David's September Commentary.)

Ali Motamed, manager of the Invenomic Fund, doesn’t fear market downturns. In fact, he seems to relish them.
Regards,
Ted
https://www.fa-mag.com/news/mining-the-short-side-51224.html?print

M* Snapshot BIVRX:
https://www.morningstar.com/funds/xnas/bivrx/quote

David Snowball's Interview With Chuck Jaffe:
https://www.mutualfundobserver.com/discuss/discussion/comment/116028/#Comment_116028

Andrew Foster's Interview With Chuck Jaffe:
https://www.mutualfundobserver.com/discuss/discussion/52347/chuck-jaffe-s-money-life-show-guest-andrew-foster-manager-seafarer-funds/p1

Comments

  • edited September 10
    Wonder whether very many funds recently have had >3% jumps on modest up days, much less more than one.
  • edited September 10
    @davidrmoran I have a feeling that's a mistake of some sort. Actually, never mind, I just realized that is share change not price change I'm looking at on the portfolio page. Maybe you're right, but the jump is unusual. It's mysterious.
  • edited September 10
    just go to M* and look at the cagr graph for a month

    or fido; hoping this 1-month image is viewable by you

    https://realtimebigchart.gtm.idmanagedsolutions.com/custom/fidelity-com/fidelity-research3.gifquote?symb=BIVRX&time=1mo&freq=1dy&size=1

    anyway, fido thinks it's real and has logged the $ increase, so presumably if I were to bail out of it I would get that amount, a significant gain

    have you ever shorted or dealt w shorting funds? this is quite what happens sometimes ... rarely ... almost never ... usually the opposite :(
  • edited September 10
    I have experience with short funds, but the strange thing here is Invenomic and Boston Partners aren't known for concentrated short positions that would drive such a big gain especially on a day like today when the market barely budged. I believe his individual short positions are rather modest, although cumulatively they are significant. So one individual big short win can't really explain it I think. It's odd. My best guess would be something to do with options, futures or derivatives of some sort where a small position can have a big impact on a good or bad day for that position.
  • if his slope remains like this (which it won't) he will get some press for sure

    you know jwaggoner?
  • Sure, I know Waggoner, not personally, but his work.
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