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.
from p.21 of filing:
K2/D&S Management Co., L.L.C. (K2 Advisors), 300 Atlantic Street, 12th Floor, Stamford, CT 06901, is the Fund’s investment manager. K2 Advisors is a majority-owned subsidiary of Franklin Resources, Inc. Together, K2 Advisor…
rating the Fed very highly at this point is “sort of like a man who jumps out of a 20-story building, and after falling 18 stories, says, ‘So far, so good.’” ibid.
@davidmoran Maybe that's not a cane; maybe that's a TASER in a cane! Yowza!
And isn't this special. Maurice posts a link, we all chime in with an opinion (based on nothing but the byline), and @VintageFreak is the only one to do the "due diligence"…
@Maurice. Sooner or later, some things just seem destined to happen. If Tulsa hadn't taken that volunteer Deputy Sheriff out of commission, he'd have rushed to the scene, pulled out his trusty taser, and ended this argument before things got out-of-…
So figures. I'm pretty sure that Citadel is the hedge fund with which the Fed Reserve has had a particularly cozy relationship for some time; I think I read recently that the FR has acknowledged they used Citadel for "data collection" and "consultat…
@Crash Keep scrolling, Crash. It's there, simply to point out that if you buy them online direct from them, you can do so without a sales charge; if you buy them thru a financial institution (brokerage, IRA, financial advisor), there "may be" a char…
Well, then there is only one thing left to be done. Isn't it obvious? Go benchmark shopping! Find one that is "a more accurate reflection of our investment methodology," or whatever. Apply to recent results and--- voila!--- retrospectively, the 3- a…
@Old_Joe and @catch22
You know, I did subsequently return, and my comment was there. However, I returned because the last sentence in my paragraph had an awkward construction, and I decided I could do better and make it right. If, after the correcti…
@MJG Wow, ditto Mona! I think that is one of the better comments you've written in a long time, perfectly measured. I don't know what you were having yesterday, but I wouldn't mind having some of it today (as long as..... it isn't too expensive :) ).
Why was my recent post deleted? If you wish to remain anonymous, send me a private e-mail about it, and let's air it out. But don't just throw something I thought thru into the trash. I attacked no one on this board, nor did I leave a snide/deprecat…
@davidrmoran Well, you had your chance. In 2009, FAGIX's NAV was thrown back to... 1985! The hands of Time were rewound for you--- you could have done it all over again. :)
@Junkster ETFs for junk? I'll see your 10-ft pole, and raise it to 20-ft--- …
@David_Snowball There are 2 Gargoyle Hedged Value funds:
(1) the one @ the Gargoyle Asset Management
http://gargoylegroup.com/gargoyle_hedged_value_master_fund_hedge_fund&pid=96
(2) the one subadvised for RiverPark (still posted on the RP fund l…
@DavidMMP Perhaps your accountant wants you to file the separate disclosure form, so as not to risk increased scrutiny, which might call unwanted attention to your offshore Cayman Island accounts. :)
@Kaspa It is rather confusing. That Oaktree link …
Well, if you want to join the party and trade like Chinese mainlanders (in yuan, no less), have at it with this vehicle:
http://kraneshares.com/kba/
If you'd like to know about the Shanghai- Hong Kong Stock Connect, here's an overview:
http://krane…
@OregonDan Yup, and the rascals at ZeroHedge are all over it, with a little help from Bloomberg and BNP Paribas:
It's a party on the Shanghai, and everyone is invited to the "self-feeding, leverage-fueled domestic frenzy"!
http://www.zerohedge.com/…
Last Fall, China opened up their A-shares for purchase by regular Chinese folk, like you and me. During Q4 alone, 900,000 new brokerage accounts on the mainland were opened, and A-shares of China corporations were bid up like crazy. Perhaps HK share…
@Paul It wasn't clear from your request: did you just want net weekly and monthly flow figures, or did you want these totals broken down into (a) outflows (smart money) and (b) inflows (dumb money)? There are few EM countries that have a tailwind be…
Come on, guys. Spring pollen counts, winter severity, soil temp inversion dates, labor strikes--- these aren't things that determine for the Fed what the interest rates should be. So what are they using? She "hinted" during a speech last Friday (25 …
OK, so, when the amount of certain assets falls in a given week, the amount of those assets is said to have actually experienced a weekly increase ...please, would sum-boddeh HELP me?
@Junkster Exactly! And I wish we didn't get reminders every single day, if we're willing to look and take it in (e.g. yesterday, reported that Joni Mitchell, age 71, found unconscious at her home; resting comfortable in the local ICU and "in good sp…
Fortunately, we congregate on a site where few participants were born anywhere close to yesterday. But you gave it the good college try, DF. Perhaps you'll have for us next week a more convincing Jesus sighting report.
As of the 2014 close, M* shows this fund as top-heavy in LCG, yet it has 15% in microcap as well. It was circa 30% short, and (leveraged) 125% long, with a very high e.r.=1.48%. And this is one of your "core holdings"? Is that what you meant to say?
@Crash Thanks for the feedback. Looks like we're close to being in the same place on PREMX. I'm just mulling the trim for now; I don't have my finger resting on the button, so to speak. I just checked at TR Price, and apparently they've decided to b…
@Crash I've been increasingly perturbed by some of the investments made by PREMX management for the past 6-9 mo; they seem poorly informed and ill-advised. Since we entered this fund about the same time, I feel "a kinship" with you, and wonder where…
@Old_Joe I haven't forgotten you, really. It's just that what I've found is a lot different than what I expected, and I'm having to re-scale the package. The changes to money market function, and what various kinds of MMkt funds can hold, is so prof…
@hank That's a pleasant way of looking at the situation. And it was pleasurable to note I have done pretty much the same thing, for the same reasons--- I just hadn't fully realized why until I read your comment! [I hope you are aware that, with such…
@catch22. Ha! I certainly didn't intend that, unless they have finely-sculpted legs, in which case I need not apologize for revealing something attractive on a day like today. Yuk!
But you are correct about the -5 finish--- the 12% figure is the de…
Gilead starting to look like the Amgen of 10-15 yrs ago. Maybe better. Nice. Individual companies, for the foreseeable future, are definitely the investment to make.
As for the rest, well, biotech sector was down -12% today. Now that the Fed has st…
@Old_Joe your thinking about MMkt funds is incorrect (both pre-crisis and certainly post-crisis); but if I can find a good synopsis to go with other things I've found (hey, I realized I needed a refresher on this, too!), then I'll have a "package" o…
I do not understand how anyone can equate ultra-ST commercial paper, having a duration less than 60d (MMF, svg accts), with non-investment grade HY bonds, having durations of 1-3 yrs, or less? To get there, what kind of mental gymnastics do you guys…
@JoJo26
With a 3,5, and 10-yr performance landing it in the bottom quartile among funds in its category, and with assets of only 17M after over 10 yrs of operation, yes, JoJo, it was not a going concern and hadn't been for quite some time. If not pe…
And let us not forget another new and very special financial product: the contingent convertibles (a.k.a. CoCo bonds)! [get 'em while their hot, or get 'em when they're not?]
http://www.bloombergview.com/quicktake/contingent-convertible-bonds
