No. of Recommendations: 0
Years ago, there was a value manager who ran 33, equally-weighted positions and was always fully invested.  
To buy something, he had to sell something. Borrowing on that idea, someone --whose name doesn't matter-- 
recently rolled out a S/M cap growth fund.  

Due to hot-housing before launch and the fact of a bit of cash due to having only 32 positions, 
the current weights aren't quite 33.3% each. But they're close enough. So, this becomes the question: 

"How much out-performance is possible if the fund's holdings are trading on their individual merits,
 given that the sponsors of the fund are notoriously bad at market timing?"

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1	AAXN 	2.39%		61.32	
2	AKCA	2.23%		23.18	
3	ALRM	2.44%		45.35	
4	BEAT	2.50%		61.69	
5	CLSD	1.42%		6.09	
6	EDIT	1.42%		27.26	
7	EVBG	3.93%		51.98	
8	FOXF	2.22%		63.76	
9	GMED	2.61%		53.97	
10	HQY	2.99%		94.67	
11	INGN	2.67%		198.15	
12	IONS	3.03%		51.86	
13	IRTC	2.25%		82.14	
14	JBT	2.89%		90.42	
15	JLL	3.85%		137.58	
16	LASR	5.03%		18.82	
17	LSTR	2.80%		102.64	
18	MGEN	1.20%		4.58	
19	NMRK	4.04%		10.07	
20	NUVA	2.72%		57.17	
21	ONCE	2.59%		47.66	
22	PCTY	4.76%		66.29	
23	PEN	2.81%		141.02	
24	PRLB	2.60%		123.61	
25	QTWO	2.94%		3.23	
26	SHAK	3.53%		54.91	
27	SMAR	2.88%		24.81	
28	STAG	2.92%		26.42	
29	TDOC	4.75%		69.4	
30	TREX	3.48%		64.56	
31	WSO	4.34%		150.47	
32	ZUO	2.85%		20.56	
	Cash 	4.94%			
		100.02%			
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If the link is a typical chart, beating those fools will be like shooting fish in a barrel. http://schrts.co/Y9hpqF 

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No. of Recommendations: 0
3 out of 32 is making any money, the rest is underwater or losing its current value.
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No. of Recommendations: 0
The fact that 29 out of 32 of their holdings are losing money isn't what matters. What matters is volatility and the opportunity to do a quick turnaround, long or short.
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