Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Jon Tara who wrote (8738)	12/26/1997 1:56:00 PM
From: Bonnie Bear	Read Replies (1) of 9285

Jon: I think you're being a bit harsh on criticism of BEARX. He sets allocations according to whether we are in an overvalued market or an undervalued market, NOT whether we are in an up market or a down market. There's a huge difference. He assumes that if people want to take the risk of investing in an overvalued up market they will buy a conventional fund. I was in the fund the day it went UP 11%. It's a great hedge vehicle and the only short fund other than RYURX suitable for an IRA account. I am up 15% with BEARX in my IRA since late summer (people trading it are up 35%) it has significantly outperformed RYURX bought near the same time. Tice's fund does not track the inverse of S&P. it tracks the inverse of the Russell or Nasdaq. Like any fund, its performance depends on timing the purchase and getting out at an appropriate time. For funds outside of an IRA, I agree that a good shorter should be able to do much better. Tice is VERY conservative and states his willingness to sacrifice return to get safety. His short picks are "safe" and they do go down quite nicely. Again, suitable for IRAs.

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