bogus guru thread

Quote from nitrene:

Wow this guy is epicly bad. He has underperformed the S&P 500 every year since 2006. That is 8 straight years of this garbage. How can these charlatans come on TV all the time and pontificate about investments when they are this bad. I'm pretty sure the monkees throwing darts would do better a la A Random Walk by Malkiel.

And I'm sure he has the 2/20 fee structure whereas the SPY has a 9 basis point fee and still outperformers this guy.

I love this guy's portfolio of 70% short bonds and long 25% Greek & African equities. Why does anyone invest with this guy?
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AUM from $36M to $14M over 2010 to 2012.


http://capitalistpig.com/wp-content/uploads/2013/07/CPAM_Audit.pdf
 
Quote from kut2k2:

You're completely missing the point. The investors want to put their money where it will get the most bang per buck. They were told these fund "gurus" could outperform the market. The gurus ain't outperforming the market.

If you don't like the S&P 500, then use whatever other index you want. If it underperforms the S&P 500, then you've made a foolish choice. If it outperforms the S&P 500, then these gurus look even worse.

The point is, they're not earning their management fees.
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Visaria will never uderstand any of this; he is as bad as Perkelo
 
Funds who take money from anyone off the street are a salesman's game. It's all about being in the news, TV shows, making it bigger and bigger while collecting hefty fees, then sell the fund if there's a good offer. Not to be racist or anything but 90% of the people listed in this thread are of a certain ethnicity.
 
Quote from d08:

Funds who take money from anyone off the street are a salesman's game. It's all about being in the news, TV shows, making it bigger and bigger while collecting hefty fees, then sell the fund if there's a good offer. Not to be racist or anything but 90% of the people listed in this thread are of a certain ethnicity.
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You know the ethnicity of Hussman, Faber, Kohler, Gartman and Nusbaum? That's 5/9 of uncertain ethnicity. Only "Nusbaum" sounds vaguely Jewish, and it could just be a normal German name.
 
Quote from Bob111:

--The point is, they're not earning their management fees.--

the point is that the 90% of the industry is based around this 'business' model with the goal TO COLLECT THOSE FEES.
it's all about 'expenses'\office fees. everywhere. they care less about performance. closed, delisted or underperformed? let's close it and open another one. wash, rinse and repeat.
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thumbs_up.gif
 
Some people can criticise ET, but at least we get to discuss the reality of things:


" the point is that the 90% of the industry is based around this 'business' model with the goal TO COLLECT THOSE FEES." .

Very clearly explained.
 
Quote from kut2k2:

They were told these fund "gurus" could outperform the market.
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How do you know that? Did a "guru" tell you ?

I manage money for other people, i sure as hell don't say to them "I'm gonna beat the S&P500 (or any other market)".

Investors who place money in hedge funds tend not to put all their money in such funds, they may already have a S&P500 index fund, they are looking for diversification away from that.
 
Quote from Bob111:



the point is that the 90% of the industry is based around this 'business' model with the goal TO COLLECT THOSE FEES.
it's all about 'expenses'\office fees. everywhere. they care less about performance . closed,delisted or underperformed? let's close it and open another one. wash,rinse and repeat.
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It applies to 99% of the financial industry - the money is mostly made on "services", one way or the other. Large funds fit that bill well, since it is mostly a diversification service, the source of alternative alpha. Is it really? Personally, I don't think so, HFRX index is pretty well correlated to S&P. FoFs apparently think otherwise.
 
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