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Just a blip,
Buy the dip,
More Tech for the hip,
But now what to do next on this wild market trip?
Do we level off and look for consolidation?
Was this little market scare just an aberration?
The Bull snorts and hollers,
As the sheep await more s…
I jinxed it with this thread.
But it can't be expected to go up on both UP market days and DOWN market days. It's clearly holding a nice slug of short positions/hedges right now. Very defensive for the moment, so it lost out today.
The choice between Bonds that yield next to nothing VS. Cash that also yields next to nothing is nauseating.
The only reason I can remember HY interest rate CDs is because I was born over 5 decades ago. The Fed and it's magic toolbox have paint…
TMSRX is only 1% for now, but will likely grow to 5% - 8% as I get more comfortable with it and add more along the way. So far, so good.
That IQDAX story disturbs me, but hoping that's more of a "one-off" situation.
Does it make sense to EXCLUDE share repurchases by companies - aren't buybacks a very real part of what keeps large-cap stocks buoyed (and increases EPS, technically)?
Pullbacks are healthy for the market. And we hadn't had many down days lately.
Some sectors could go down a LOT MORE from here and still be considered overvalued.
Hedge funds make numerous "donations" to govt, on both sides of the aisle. Lots of lobbying power. Maybe that's why trading is restricted for retail investors.
.........Well I had been thinking that we were overdue for about a weeks worth of such daily pullbacks. Probably not in the cards, though. Too much stimulus and bullish sentiment (though that used to be a bearish indicator).
Manipulation of small stocks occurs, look at the Gamestop fiasco (pumped via REDDIT).
"GameStop’s Reddit-fueled rally, explained. Video game retailer GameStop is up more than 20x since March lows (and +79% in just the past 2 trading days). What’s g…
I keep adding to TMSRX, HMEAX and FIKFX. That's the conservative plan for 2021. Mr. Market is more than nuts. The inmates have been running the asylum.
One could argue that the fund has successfully navigated a very rough patch in 2020. It has very active management (and thus high turnover). We have beaten the dead horse as regards use of leverage.
Can SVARX succeed while facing the next wave o…
Thanks, davfor. Interesting how SVARX brought exposure down from highly leveraged at 12-2019 206% all the way down to 28% in 1Q 2020. Sometimes market timing works.
This might be considered cherry-picking of data, but if you remove a really great 2020 (+24.1%), then SVARX returns are less impressive - though still not too shabby:
2019 ..... 9.42%
2018 .... -0.99%
2017 .... 8.26%
2016 ... 16.45%
…
The portfolio manager for SVARX, Ralph Doudera, also handles HFSAX. Mr. Doudera has a Masters degree in Biblical studies and also a Masters in Mgmt/Finance.
His funds have performed extremely well with limited volatility. SVARX has 3 and 5 yea…
Fed Chair Powell: 'Be careful not to exit too early' on easy monetary policy
"But Powell’s commentary may be an attempt to quell any jitteriness over the Fed pulling back on its accommodative policy. Fed Vice Chairman Richard Clarida said Wednesday…
The promise of additional stimulus along with continued Fed intervention create a solid floor FOR NOW. I keep reading about a "lack of sellers" in this market. I've read about Robinhood traders supposedly having an effect. Its all a bunch of BS. …
Buying a few shares of a recently born ETF "HEGD" from Swan Global Investments just to keep on my radar. I believe its their only ETF. We shall see if it does its job.
"HEGD aims to address long-term investors’ need for capital appreciation whi…
"The Fund’s Index seeks to offer the potential for targeted monthly distributions while maintaining a stable net asset value over time (all or a portion of which includes a return of capital if the Fund’s net return is less than the targeted distrib…
I had owned TAIL recently after instead using SDS for hedging earlier on. Such investments end up being somewhat expensive market "insurance", since equities tend to go up maybe 75%- 80% of the time.
Learned that I'd rather just own more conse…
Too bad about the $100K minimum, I'll have to pass on this one. This fund has had decent performance overall, and is probably one of the better ALT funds.
TTL Assets are at $1.8B.
I also use ARBIX and FIKFX. Then I cobble on some merger arb funds (HMEAX and MERFX). TMSRX seems to be a popular alt fund that has done well.
SWAN & DRSK are also on the menu. They seem to go well together.
Considering SVARX and CVSIX, b…
TMSRX has distributed its holiday fare to shareholders this week. It threw off a big dollop of short term capital gains and a generous slice of income. The secret sauce ain’t cheap if held in a taxable account. Nevertheless, there is much for which …
After reading the list of "styles" hank had posted above, it reminded me of another Team-managed ALTs fund - MASFX. Its been around longer, but hasn't done much.
https://partnerselectfunds.com/pdfs/fact-sheets/MASFX_fact_sheet.pdf
Absolute Retu…
Its amazing that the majority of such "alt" mutual funds fail to produce decent returns over time. Despite all these derivatives at their disposal, it's easy for the Fund Mgr to sink the ship. KISS works best.
OSTRX has been a nice steady-eddy in its short life. Held up well earlier this year. Newer (only $200M in Net Assets) fund means its nimble, which is nice for a vehicle that has some latitude in choosing what types of debt it can invest in.
I do…
succinct
https://www.axios.com/make-believe-economy-27a5a019-6798-4dd5-b674-e4dd914d73c0.html
Thanks for posting - excellent article.
"The socialization of debt by the Fed is fundamentally reshaping how the quote 'free market' system works," …
Crash - Yes, reversion to the mean can take a really long time. In 1998, markets were screaming higher as we watched the dot.com bubble grow more and more (very frothy). In 1999, the markets marched even higher and the party continued (before reali…
