Silver as an investment

Category Archives: Active management

Bloomberg Pronounces The Early Death Of The Traditional Long-Short Hedge Fund Model

Bloomberg has apparently just taken it upon itself to pronounce the early, unceremonious demise of the traditional Long/Short Hedge Fund model after seemingly declaring that stocks will continue to march higher in perpetuity, with minimal volatility, thus rendering traditional financial analysis and stock picking about as obsolete as a Motorola pager from 1982.  Of course, […]

Tech Stocks Accounted For 75% Of The Market’s October Return

For some context on the unprecedented dominance of the tech sector on the overall market, here is some perspective from BofA’s Savita Subramanian on October returns, when Tech continued to lead the other ten sectors, generating +7.8% on a total return basis. This translates into a whopping 75% of the S&P 500’s return last month! […]

Human Traders Are Trouncing The Machines

The contemporary low volatility trading environment has been kind to actively managed equity funds – particularly if they piled into large-cap momentum stocks like Facebook and Amazon, which have been responsible for the bulk of this year’s rally. But while active managers have enjoyed three quarters of strong returns, quant funds – purportedly the future […]

13 Truths About How Money Really Works

Authored by Lance Roberts via RealInvestmentAdvice.com, There is an increasing amount of commentary which suggests this time is different. Active management of portfolios is no longer needed, as Central Banks continue to be supportive of the markets, so join in on the “passive indexing” sweeping the country. Of course, such commentary has always the case near the peak […]

These Are The 10 Most Crowded Long And Short Trades According To UBS

In this market where fundamentals long ago ceased to matter, and where positioning remains one of the few remaining sources of alpha, investors have been focusing on lists showing the most over and under-owned stocks. However, contrary to the narrative that the most heavily owned stocks outperform the most shorted, or underowned ones, and vice […]

15% Of Greenlight Capital Investors Submit Redemption Requests

While, inexplicably, Bill Ackman’s Pershing Square remains immune (according to Ackman at least) to redemptions despite posting a terrible return in the past two years, another hedge fund from the “glory days” is having less success in keeping LPs: the WSJ reports that Einhorn was “forced to pay back more than $400 million in clients […]

WTF Chart Of The Day: There Are Now More Indexes Than Stocks

For the first time ever, the number of market indexes now exceeds the number of U.S. stocks… As Bloomberg reports, traditional ones such as the S&P 500 are collections of securities weighted by market value, and index funds mimic them as a low-cost way to deliver the market’s performance. Many new indexes are different: They […]

Axel Merk: “There’s More To Investing Than Chasing Companies That Want To Make Mars Inhabitable”

Authored by Axel Merk via MerkInvestments.com, How does one construct a portfolio in an era of seemingly ever rising and highly correlated asset prices? Years of asset prices moving higher has changed both retail and institutional investors; it has changed the industry; and, in my humble opinion, those changes spell trouble. The prudent investor might […]

FPA: “ETFs Are Weapons Of Mass Destruction; We Could Get An Onslaught Of Selling”

One of the recurring themes on this website over the past two years has been the growing threat posed by the flood of capital out of active investing and into passive, and far cheaper and better performing (under central planning) vehicles such as ETF. For a quick rundown, here are some recent posts on the […]