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Pastimes : Ask Mohan about the Market
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To: Lone Star who wrote (10236)12/5/1997 1:54:00 PM
From: George Acton  Read Replies (2) of 18056
 
| So basically you're saying it would most likely track, in
| percentage-wise gain, the percentage decline in overall markets?

That's correct only to a first approximation. Someone posted a
chart here showing that it inversely tracks one of the leading
growth/tech funds more closely than the SPX. Barron's recently
had a piece about Tice's positions. IIRC, it said he could go
only 40% short, so in a big decline you might not be hedged 1:1.
But he made money some days this week when the indexes were up.
The bottom line is that it's a reasonable hedge to hold for
a while. If you can time a major drop in the overall averages,
the place to be is short SPYDR's..
--George Acton
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