Where Does The Next Dividend Come From?, page-4

getting dumped. Investors have lost faith in the neutral strategy. I feel for ALF, as stocks are probably fairly valued, and to be market neutral right now is probably a reasonable call. BUT, with interest rates falling, stocks will keep rising and rising beyond valuations and reasonable metrics, and ALF will suffer if we head back to 6000 and beyond. If they were 70pc long, 30pc short, like WAM WAX, I think they would have faired better!