<underperformance of Mike&Daves Retirement fund>
I'm not sweating M&DRF too much. Now sometimes I worry
about the degree to which I've been churning--but
you probably do have to trade the pennies to get decent
performance--that portfolio isn't really churned is it?
Trading/churning: How else could I have taken myself
from the post Ariad stop-loss blues (when I was very
close to calling it quits) and instead quickly doubled
my money. Not saying it is skill, we have all
done well, but I cant walk away now, biotech
is the hot sector, no denying it.
But I'm not going to be too cocky about next year--
a good chance lower tier biotech keeps rallying for
a couple more months, but I wont sweat things if
it peters out. And besides, several of my positions
are paid for (or mostly paid for)--I'm going to get
really radical here and call these investments:
My shares of Valentis, TGEN, Magainin (don't know
how I managed to trade that okay, sometimes you
get lucky) and what is left of that huge pile of Ariad
--no more trades on those, except ariaw of course,
which I have a year left to sneak out of.
Much of the rest of my stuff may get the living daylights
traded out of it, as volatility allows--at least til the
baby is born...I'll probably leave you fellas alone and
buy a fund after that, gasp. |
