In a bull market like we have seen this year, it is easy for most investors to think they are quite talented. There haven’t been too many weak areas in the markets. Chances are, whatever your method is it is probably at least delivering very solid absolute returns. I must go back about two years to find a period that provided a slight test of investor’s nerves. It has led me to think of a couple of well known sayings in the market. Continue reading “We are all gurus in a bull market, Obscure exchange listings, The other Future Generation Fund & Simpler times.”
Most investors probably have an inkling that active fund managers are not doing a stellar job when it comes to outperforming the S&P 500 of late. Sometimes a chart is worth a thousand words, and the above one ought to grab the attention of those with a penchant towards a mean reversion, contrarian and cyclical approach to their investing.
This post will predominately be for those that subscribe to the theory that active managers may be in store for some sort of return to favor over the next few years, and potential implications of this for some LICs.
Previously I couldn’t see much difference between CYA and WAM (apart from WAM costing 30% more!) although today’s announcement has clarified things to some extent.
The CYA transaction got me thinking to the extent similar deals have occurred in the past. There are a few fund managers who will examine investing in LICs, yet the vast majority don’t. I’d like to better understand why many avoided LICs in 2009-2012. Continue reading “MERGERS, ACQUISITIONS AND WIND-UPS IN THE LIC SECTOR”
We now know that WAM has come back to take control of CYA, after withdrawing their plans early in the year. Continue reading “CYA, KAR, NGE, and the AUD.”
Period 1st half March 2016, written March 11th
The stronger equity markets of late has not been the ideal scenario I was looking for. There is a reasonable chance the short trades I placed on the US indices will get stopped out. Whilst they exist at present my cash equivalents weight is marginally lower at 43%. Some small physical buy trades got filled which I will comment further on below. Continue reading “Happy 7th year birthday for the bull market.”