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Pastimes : Prudent Bear Fund (BEARX): contrarian investing -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (292)	8/7/1998 7:23:00 AM
From: StaggerLee	Read Replies (2) \| Respond to of 793

No kidding, BEARX falls during rising markets. But not like this! BEARX isn't 100% short. BEARX holds cash, BEARX holds fixed income securities, and BEARX holds STOCKS. Nevertheless, in the past year BEARX is down 18% while the SPX is up 15%, the COMP is up 13%. BEARX is doing even WORSE than if it were 100% short the market! Considering the composition of its holdings, it's hard to fathom how BEARX can be down more than 10% in the past year. Rather, it's acting like it's 125% short! Bottom line is, Tice can't pick stocks. Or at least he hasn't shown it in the past year. And the performance since inception isn't much better.