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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (45552)	11/16/2005 8:57:30 AM
From: Rarebird	Respond to of 110194

>>Well the kind of market that until the last few weeks was roughly flat for the past 18 months while he has returned 13% or whatever.>> Hussman's Strategic Growth Fund is up a little over 5% this year. Last year (2004), HSGFX was up less than 1% from April through December. I know because (until recently) I was a shareholder for the past 4 years. So, get your facts straight. <He often does not get short term plays right and has admitted it many times.> Hussman has a humble Buddhist spiritual side to him. He claims not to be a short term market timer. But beware when he moves from a partly hedged to fully hedged market position or vice versa. There is no better short term market timer than Hussman regardless of what Hussman says. The problem with Hussman is that he is a very mediocre stock picker. His returns from 2000-2002 were largely derived from being fully hedged and having these hedges (puts on the SP 100 and Russell 2000) outperform his long stock positions, which were flat to slightly down. Hussman rode MRK and UTSI all the way down last year before he lightened up. You should check the Hussman stock portfolio once in a while. His fund started out as a midcap blend offering. But the Fund has gotten so big and bloated that it is now a large cap offering. Hussman has one of the worst 3 year track record for funds in his class: forbes.com Sure, his track record over a 5 year period is excellent. However, many value funds with lower expense ratios outperformed him during the 2000-2002 period. The bottom line is this: If you are a "stoopid Bear", Hussman's fund may be for you. His fund has done well in Bear and Flat markets. But in an up market, his fund grossly underperforms and due to the bloated size of his fund, he is somewhat limited in what he can buy.