Ann: Change in Portfolio Value, page-12

Err....@eerrtt... i think you will find, if you go back and read posts on the ALF folder, that there have been numerous posters expressing the same optimistic views as your own, that ALF will not necessarily “outperform” but at least “perform” in a down market.
If you look at ALF presently and in a historical sense, Mr Braitling has positioned the fund so that the longs almost equal the shorts... ALF rose briefly when Mr Braitling gave a positive result for the month last month but the shareprice has resumed its “non upward movement” which appears to be the norm.
I will record your comment “I think you will find they will outperform now ASX is falling, almost certain.”
But, I think you will find just like us long term holders that nothing is certain with ALF except that the share price will not move dramatically upward !
If longs equal shorts and the wrong shorts and longs are “paired” then the only winners in this case are likely to be the managers who seem to be “tumble drying” our funds in the big laundry of equities.
If you like, we could have a small wager consisting of a pie and coke on the outcome ?
I hope I’m wrong, and I’m sick of being wrong by being in ALF, but, unfortunately, I dont think I will be !