Is Atticus one of the ones you broke down on your ...

2008-09-05T16:06:00.000-04:00

Is Atticus one of the ones you broke down on your blog?

Remember I told you 3-4 weeks ago not to fawn over hedge funds - when you were showing their holdings and then saying "I'm pretty sure they must be out of these commodities - I mean thats what hedge funds do"

Now you are seeing just how schrewd they are ;) I mean some.

My open question - how does a "HEDGE" fund WITHOUT much leverage (as Atticus) claim go down 28-33% in 8 months? I mean most lowly mutual funds beat that by a country mile WITHOUT any hedging - long only.

My only guess without looking at their short holdings is they were short financials at that July bottom.

Again, there are brilliant hedge fund managers and I would like to be a not so brilliant hedge fund manager some day... but people attach the term "hedge fund" to "brilliance" far too easily. It became way too easy to get one, as people jump and give money based on PEDIGREE in my opinion.

You can see now how much leverage led to many people's gains, not actual talent.

Maybe less stars in your eyes now? ;)

yea i got stopped out of MA in my longer term port...

2008-09-05T15:58:00.000-04:00

yea i got stopped out of MA in my longer term portfolio. 220 is the line in the sand for me. knee jerk reflex rally in the name right now but we'll see if that level holds. MA was one of Atticus' main holdings (along with obviously tons of other macro & commodity funds). so we'll see if the "beat down other funds top holdings" trade is over or not. doubt it though

Comments on Fund My Mutual Fund: Bookkeeping: Closing Out Some Smaller Positions

Is Atticus one of the ones you broke down on your ...

yea i got stopped out of MA in my longer term port...