29 October 2009

High Risk vs Low Risk Portfolios Since Oct. 14

Here are three charts showing the performance of the Highs (low risk) and Lows (high risk) since Oct. 14. There's also a longer term chart showing an earlier hedged long Highs - short lows portfolio from September 25. As you can clearly see the trend towards caution has been firmly in place for over two weeks and really since the beginning of the month. The spread between the Highs and Lows is about 9% for the new portfolios. The long-short portfolio is up 6.7% this month. I compared that with the daily performance of the long portfolios of several famous hedge funds and money managers at TickerSpy.com. The best in Oct. has been Clinton, Archon, Stralem and Granthem - up 2-3%. It's been a tough month to be long. Oaktree, Elm Ridge and Criterion are down about 10%.

FYI Galleon's old portfolio lost 4.2% and ranked in the lower quartile; thus the need for the inside info from the brokers. There's a big stir today about brokers giving Galleon private non-FD'd scoops. I've seen no evidence in his 13fs that Raj did such a great job on the longside. Is it logical that all of his advantaged trades were closed out at the end of a quarter? Leaving only his longer term holdings? Doubtful.

Today looks like a bullish reversal at the open. Whether it lasts for more than a few hours or days...............je ne sais pais.

If you want to see the Highs and Lows, go to Tickerspy and search for Phoneranger or abslive.

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