Selectively Buying The Dip

No surprise, our watchlist has ballooned to over 60 names due to the market turbulence in recent weeks. As more stocks fall into attractive pricing ranges, some possible quality names begin to visit our screens once more. As for the market itself, I studiously avoid trying to predict the market’s direction. I found a heavy [...]

No Comments

Q1 2010 Hedge Fund 13F-HR Spreadsheets

I’m a bit late on breaking down this quarter’s hedge fund holdings. At times, investing and blogging are somewhat incompatible as posts take time and with the recent market action, I chose to spend that time focusing on my portfolio. If you have a strong case for other managers I should include, send me an [...]


BP Spill Raises Questions For Petrobras

Bloomberg carries this story about Petrobras (PBR) possibly delaying their huge $25B share sale (17% of current market cap) to fund exploitation of some promising deepwater prospects off the shore of Brazil. Unfortunately for them, the recent global market slide has dropped PBR 15% and is endangering the transaction. Comparing PBR’s one-month chart to the [...]

No Comments

Sell in May and Go Away? Hardly.

Barely half over, May has already been the most active month for us in quite some time. The increased volatility has restored some premium back into options, used to good advantage by writing calls against our gold positions. Also, headline risk has presented us with some opportunities. Many European stocks have plunged along with the [...]

1 Comment

REITs Vs Private Equity

Lost in the wake of last week’s market excitement was this article in the Wall Street Journal [$] detailing the REIT industry’s effort to persuade investors to allocate more real estate investment dollars in the public market via REITs. REIT supporters lament the possibility of losing capital to private equity firms under false assumptions that [...]


Gold The Antidote To Delusions Of Market Stability

Last week’s action reinforces my analogy of the financial markets being more akin to car-driving than roller-coasters. Most people drive recklessly far more often than they should but get away with it most of the time. With the market, an unrelenting stream of up days fostered an illusion of stability. It becomes clearer that these [...]