To Sell or not to sell, page-35

Why would you expect improved performance in a market correction?
The Watermark fund is designed to be neutral overall and ALF has been positioned near
enough to neutral by Justin for some time. If a fund is positioned neutral overall, profits
are dependent on the manager picking the outperformers in the long portfolio and the duds
in the short portfolio. A market correction in itself, should not generate extra profits.
My investment in ALF was aimed at preserving capital but it has failed,to the point that
I am easing my way out. Needless to say, based on past experience, ALF will suddenly
find a new burst of life once I am completely out.
pargolf