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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Pancho Villa who wrote (4581)3/9/1998 8:13:00 PM
From: Mama Bear  Read Replies (1) of 18691
 
>>>The biggest example of making this type of mistake was probably Vinick's huge bet on bonds in Magellan when the market was around 4000. <<<

I'm pretty sure the market was closer to 6000 than 4000 when he did this, and know that had the position not been unwound by the new manager that the fund would have outperformed. I've actually learned an important lesson in diversification from bonds performance over the last year and a half.

Sure we have the benefit of hindsight now. Of course Vinick is quietly returning almost 100% per annum returns with his hedge fund now.

FWIW

Barb
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