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Posts by vero_group

After a year and a half of actively reading and contributing 556 posts to The Style Forum, I regret to say that I must bid you all adieu. I am working on a variety of projects offline that require my full attention right now. I must cut back on my online time to ensure that these projects succeed. Hopefully, I can return some day in the future and check back in on everyone and all the goings-on at The Style Forum. I want to thank you all for your insights and comments....
Quote: 3) mutual fund managers must by definition fail to beat the market in the long run because a) they have transaction costs and overhead, which indices don't include, b) barring (illegal) inside information, markets always represent (already have priced in) all available public information and thus managers are playing a guessing game in the long-run (an educated one perhaps, but again, they have no information that everyone else in the world doesn't have...
I agree. Regulation is The Answer.
Quote: Regarding your point on MF being less safe - I think you make a terrific point that I have never considered, nor even heard referred to before.  However, I have a feeling the government is more focused on "safety" as defined by "which security has a higher probability of dropping by a huge amount" or a Value at Risk perspective, not simply as the highest mean return. Yeah, I was perhaps being a bit too dramatic on my soapbox above -- some...
Quote: I think it said they were used without permission, actually. If someone is a "public figure" you can pretty much lampoon them all you want without their permission.
Quote: Quick question - Vero, while your results are impressive, what you describe sounds to me like a value oriented mutual fund.  How exactly is this a _hedge_ fund (i.e., how are you hedging/arb-ing)? A hedge fund need not have hedges or arbs in place to be a hedge fund. Hedge funds are simply a class of private equity investments typically targeted at HNWI and institutions. These funds are defined by their freedom: they may be purely long, purely...
Quote: Logan, if you don't mind sharing, how many securities that you usually hold in a given time? And are you only investing in equities, or also fixed-income and derivatives? FCS, Right now, that portfolio only holds 10 equities plus a smattering (5) option positions (4 puts, 1 call). One of the 10 was a spin-off issued to me as a dividend by one of the nine I myself chose. In general, I avoid overdiversification -- the more you diversify, the...
Quote: I don't think anyone so adept at choosing undervalued companies could possible not be good at what he does. If it was easy there were be 50 Buffetts instead of one. There are thousands of people around the world who, while they may not be as successful as Buffett, invest much like Buffett does. I am one of those people. It is the only way that makes sense to me. I don't understand stuff like "momentum investing", "technical analysis", or...
Quote: I was talking to an analyst who used to work with George Soros at a party a few weeks ago and I asked him what he thought of Buffet, "Just an insurance Tycoon who bought up other companies outside of insurance."  I don't find the Oracle of Omaha all that mystifingly brilliant- he looks good when the market is down, too conservative when the market is up. Well, I think your analyst friend is not educated on what Buffett has done exactly. From...
Why not learn directly from the world's greatest investor? Read anything and everything you can written by or about Mr. Warren Buffett. Start with his annual Letters to Shareholders at www.berkshirehathaway.com. This worked for me. His pearl of wisdom that resonates so deeply? Price does NOT equal value.
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