No, but this guy is the leader in 2021?
No, but this guy is the leader in 2021?
Ghost of Igloi wrote:
No, but this guy is the leader in 2021?
https://www.morningstar.com/funds/xnas/hsgfx/performance
I'm really happy for ol'Hussman.
Hope he's enjoying it.
Dr. Racket wrote:
Didn't Sven win the "Most Incorrect Person of the Year" or something like that in 2020?
He did not, but he was a finalist.
agip wrote:
Ghost of Igloi wrote:
No, but this guy is the leader in 2021?
https://www.morningstar.com/funds/xnas/hsgfx/performanceI'm really happy for ol'Hussman.
Hope he's enjoying it.
we should point out that Igy picked energy stocks before they went to the moon, and now he has probably the hottest mutual fund in the nation. Up there, anyway.
+14% year to date
+31% one year.
ball out of park.
Hussman gives a lot of free information, whether you agree or not. A good person. This podcast with Jesse Felder came out today:
agip wrote:
agip wrote:
I'm really happy for ol'Hussman.
Hope he's enjoying it.
we should point out that Igy picked energy stocks before they went to the moon, and now he has probably the hottest mutual fund in the nation. Up there, anyway.
+14% year to date
+31% one year.
ball out of park.
Who isn't up at least 14% YTD at this point
Dr. Racket wrote:
agip wrote:
we should point out that Igy picked energy stocks before they went to the moon, and now he has probably the hottest mutual fund in the nation. Up there, anyway.
+14% year to date
+31% one year.
ball out of park.
Who isn't up at least 14% YTD at this point
Well, besides Melvin Capital
Dr. Racket wrote:
Dr. Racket wrote:
Who isn't up at least 14% YTD at this point
Well, besides Melvin Capital
ha ha
a benchmark 60/40 portfolio is up 1.7% year to date
Which is very, very good for c. a month.
Dr. Racket wrote:
Dr. Racket wrote:
Who isn't up at least 14% YTD at this point
Well, besides Melvin Capital
seriously, someone i know well is going into that line of work so i read up on it. Very little that these hedge funds do isn't hedged and risk is minimized. Maybe i'm wrong, but I would have a really hard time believing that somehow options weren't taken out to safeguard their short position should i go wrong as it did.
Maybe not those guys, but i bet a lot of the funds that take out these positions are leveraging in the opposite direction in case it doesn't go as planned.
seattle prattle wrote:
Dr. Racket wrote:
Well, besides Melvin Capital
seriously, someone i know well is going into that line of work so i read up on it. Very little that these hedge funds do isn't hedged and risk is minimized. Maybe i'm wrong, but I would have a really hard time believing that somehow options weren't taken out to safeguard their short position should i go wrong as it did.
Maybe not those guys, but i bet a lot of the funds that take out these positions are leveraging in the opposite direction in case it doesn't go as planned.
"Hedge" fund has always been a misnomer. They're more like speculative funds. Hussman runs a bear speculative fund for instance.
You may recall a couple years ago that an oil futures hedge fund got infinity blasted when they were on the wrong side of oil (which tanked hard) and nat gas (which went flying to the moon).
For Melvin, they're first dipsh!t move was shorting a $4 stock on a company on the verge of bankruptcy. I mean seriously, talk about squeezing blood from a rock. They're second dumb move was over shorting it. This is where it gets complicated because every time you short a stock you essentially create two long positions. so the numbers can get kinda funny with free float. Then the position started to go against them and instead of closing it out, they almost certainly started naked shorting shares - essentially selling shares that don't exist. It's also turbo illegal
Dr. Racket wrote:
seattle prattle wrote:
seriously, someone i know well is going into that line of work so i read up on it. Very little that these hedge funds do isn't hedged and risk is minimized. Maybe i'm wrong, but I would have a really hard time believing that somehow options weren't taken out to safeguard their short position should i go wrong as it did.
Maybe not those guys, but i bet a lot of the funds that take out these positions are leveraging in the opposite direction in case it doesn't go as planned.
"Hedge" fund has always been a misnomer. They're more like speculative funds. Hussman runs a bear speculative fund for instance.
You may recall a couple years ago that an oil futures hedge fund got infinity blasted when they were on the wrong side of oil (which tanked hard) and nat gas (which went flying to the moon).
For Melvin, they're first dipsh!t move was shorting a $4 stock on a company on the verge of bankruptcy. I mean seriously, talk about squeezing blood from a rock. They're second dumb move was over shorting it. This is where it gets complicated because every time you short a stock you essentially create two long positions. so the numbers can get kinda funny with free float. Then the position started to go against them and instead of closing it out, they almost certainly started naked shorting shares - essentially selling shares that don't exist. It's also turbo illegal
And apparently there's some epic sh!tload number of calls that expire on Friday. If those calls get exercised, then whoever sold those calls is about to be very not happy. I imagine you'll see a massive attempt to drop the share price before then so the calls go OTM and expire worthless although I have no idea what the strike price is.
Honestly, WSB is poking some really big bears and fvcking with FU money now, and you never fvck with FU money. Some of those guys have enough money around that they'll throw a billion here and a billion there just to prove a point and put some people in their place. Not gonna end well I think. It's true WSB tradition to always end up broke in the end
Joe and Janet are keeping a close eye on the situation (donors and Rosemont Capital).
agip wrote:
we should point out that Igy picked energy stocks before they went to the moon
11/27/20
Ghost of Igloi wrote:
muy loco,
I own zero energy stocks including XOM, but go ahead and do your thing.
Igy
Racket, i was using the term hedging not as in Hedge fund, but as taking an options position in the opposite direction of the stock position in order to safeguard in case the stock position (long or short) goes for a loss.
Like i remember when GS or one of the big boys was criticized back in the sub-prime mortgage days for taking out a hedge against their own mortgage backed mutual fund, and were criticized since it looked like they were betting against the product they knew was bad but were profiting by selling to unwitting investors. They explained, however, that such hedging is a common practice to safeguard against a position/holding going wrong, and thereby minimizing the loss.
Again, i don't know if they hedged their short position in this case, and we might never know, but i wouldn't be surprised.
Ghost of Igloi wrote:
Hussman gives a lot of free information
Who in their right mind would pay for it?
seattle prattle wrote:
Racket, i was using the term hedging not as in Hedge fund, but as taking an options position in the opposite direction of the stock position in order to safeguard in case the stock position (long or short) goes for a loss.
Like i remember when GS or one of the big boys was criticized back in the sub-prime mortgage days for taking out a hedge against their own mortgage backed mutual fund, and were criticized since it looked like they were betting against the product they knew was bad but were profiting by selling to unwitting investors. They explained, however, that such hedging is a common practice to safeguard against a position/holding going wrong, and thereby minimizing the loss.
Again, i don't know if they hedged their short position in this case, and we might never know, but i wouldn't be surprised.
the 'hedge' in 'hedge fund' usually refers to a situation where you have an equal amount of short and longs, so any result is based on your stock picking, and not the broad movements of the market. It's an appealing idea...to make money no matter what the market does. Many institutions would be very happy to make 7% per year no matter what the market does...even if the broad market goes up 10% per year. The stability of performance is the goal.
It doesn't work well though. Few can get those non-correlated returns.
One of my favorite hedge terms is 'texas hedge' which I believe means you hat position A and position B. One is supposed to zig when the other zags. If one goes up, the other would go down. But when each goes in a losing direction....that there boys is a texas hedge.
agip wrote:
seattle prattle wrote:
Racket, i was using the term hedging not as in Hedge fund, but as taking an options position in the opposite direction of the stock position in order to safeguard in case the stock position (long or short) goes for a loss.
Like i remember when GS or one of the big boys was criticized back in the sub-prime mortgage days for taking out a hedge against their own mortgage backed mutual fund, and were criticized since it looked like they were betting against the product they knew was bad but were profiting by selling to unwitting investors. They explained, however, that such hedging is a common practice to safeguard against a position/holding going wrong, and thereby minimizing the loss.
Again, i don't know if they hedged their short position in this case, and we might never know, but i wouldn't be surprised.
the 'hedge' in 'hedge fund' usually refers to a situation where you have an equal amount of short and longs, so any result is based on your stock picking, and not the broad movements of the market. It's an appealing idea...to make money no matter what the market does. Many institutions would be very happy to make 7% per year no matter what the market does...even if the broad market goes up 10% per year. The stability of performance is the goal.
It doesn't work well though. Few can get those non-correlated returns.
One of my favorite hedge terms is 'texas hedge' which I believe means you hat position A and position B. One is supposed to zig when the other zags. If one goes up, the other would go down. But when each goes in a losing direction....that there boys is a texas hedge.
ack sorry seattle I misread your post due to laziness.
You know this - sorry. I was being didactic, unfortunately.
Fact checker wrote:
agip wrote:
we should point out that Igy picked energy stocks before they went to the moon
11/27/20
Ghost of Igloi wrote:
muy loco,
I own zero energy stocks including XOM, but go ahead and do your thing.
Igy
energy stocks bottomed in September so there was plenty of time for rising before 11/27
agip wrote:
agip wrote:
the 'hedge' in 'hedge fund' usually refers to a situation where you have an equal amount of short and longs, so any result is based on your stock picking, and not the broad movements of the market. It's an appealing idea...to make money no matter what the market does. Many institutions would be very happy to make 7% per year no matter what the market does...even if the broad market goes up 10% per year. The stability of performance is the goal.
It doesn't work well though. Few can get those non-correlated returns.
One of my favorite hedge terms is 'texas hedge' which I believe means you hat position A and position B. One is supposed to zig when the other zags. If one goes up, the other would go down. But when each goes in a losing direction....that there boys is a texas hedge.
ack sorry seattle I misread your post due to laziness.
You know this - sorry. I was being didactic, unfortunately.
no problem.
that was informative and i appreciate it.
Dr. Racket wrote:
agip wrote:
Awww man
https://twitter.com/tracyalloway/status/1354576283372384259?s=21literally happens like twice a week now. There's so much spammed sh!t by bots trying to astroturf for other stocks now and it takes the AutoMod bots a while to catch up and clean up.
Seriously check it out sometime and sort by new. The amount of brand new accounts saying "BUY XYZ BUY BUY ROCKETSHIP UP BUY MOON ROCKET" is hilarious.
Yeah, WSB is back. The number of subscribers has almost doubled in the last two weeks, and the mods needed some better methods to keep the bots out.