Ann: Change in Portfolio Value, page-6

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HrvojeCraft1k

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05/12/18

11:51

Post #: 36756953
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Originally posted by imback: ↑

Well market neutral just means they have short sold a hold bunch of shares they think will do poorly and used that money to buy a whole lot of shares they think will do well. As I've said before, if they get both sides wrong then they can generate negative returns on long and short and exacerbate their lack of talent.

If I look at another active fund I own Monash Absolute (MA1), whilst they haven't been brilliant on some of their small cap longs, they are very selective on their outright shorts. Most of their shorts however are done as a 'pair trade' which is a much safer type of trade as they only need to pick a relative winner between 2 companies. They have actually performed very well in relative terms this year and have previously had some good upside years with their longs. Much smaller and targeted focus for these difficult market periods. Their NTA monthly report was a good read today.

I think there are many of us looking to jump this sinking ship, but too many are jumping into the life boats ahead of us. The white knight doesn't appear on the horizon given the easy returns an activist could generate if they sank this boat for good.

Interesting to see Geoff Wilson was an absent director at the AGM. Not sure if anything can be read into that?

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I agree mate, while SP hasn't been great Monash at least are honest with their investors and I can see they have really thought through and researched their investments..... clearly Watermark have no clue! May as well bring in a monkey with darts as a new manager!!

ALF Price at posting: 97.5¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

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Ann: Change in Portfolio Value, page-6

Top Stories

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Auric sniffs gold up to 12.1g/t through drilling at Spargoville prospects

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Tyranna wraps up lithium drilling in Angola; says looking for other projects with different metals

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

Cyclone signs MOU with Vale for development of Iron Bear play

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Recce scores $6.75M R&D rebate