>>It would be nice to know what Stagger Lee owns himself, when he bought it, and what he paid for it.
What else? My annual income? Mother's maiden name? Credit card number and expiration date? Underwear size?
I don't see where it's relevant, but since you have asked twice now, my long positions are doing about as "well" as everyone else's, which is way better than BEARX if you look back more than a few months. Market timing is great when it works. The only problem is, it doesn't. Tice can brag about his great performance this quarter, just like some people brag about how they've made money shorting Coke and GE during the past decade at the right times. Great! I made a ton on 36-red last month, too. My point is even stupid bets pay off once in a while. When that happens, you can either keep playing, or take the money and run. You *know* that BEARX will be worth less in a few years than it is worth now. Why not pick something that at least has a chance to go up?
It's a virtual certainty that even cash in a mattress will outperform any "short fund" over the next 5-10 years. Still, I know the allure of winning when you're going against the trend (i.e, when you know you really should be losing), so I can understand why people buy these funds. Enjoy it while it lasts. For what it's worth, I sold mine at $6.09, -14%. |
