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Fred Piard  

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  • Canadian Discounts On Gold And Silver (March Update) [View article]
    Like any fund, when you buy it, you buy its management team reputation (with a quite fair and long track record). Even if I hold some CEF for the discount and the geographical location (I think Canada is a better place than the US or the EU to hold some gold), I prefer ZKB ETFs, guaranteed by a AAA Swiss bank and a AAA Swiss cantonal state (and independent of the Swiss National Bank). BTW I rely more on my market neutral stock portfolio.
    Mar 16, 2015. 12:55 PM | 1 Like Like |Link to Comment
  • Canadian Discounts On Gold And Silver (March Update) [View article]
    Congrats, you got it at a good price. As an expat EU citizen, I'm quite well informed about what happens there. Hey, holding two stocks is not a strategy, this is faith! Do yourself a favor: read my books ;-) (or any other good ones).
    Mar 14, 2015. 04:24 PM | Likes Like |Link to Comment
  • Canadian Discounts On Gold And Silver (March Update) [View article]
    You may want to contact their IR service for more info, I just know that CEF is around for a longer time (which is no guarantee). I don't rely only on CEF, I hold some from ZKB, which has probably the safest metal ETFs in the world, unfortunately they are not allowed for US persons (and have no discount). More info on these: http://bit.ly/UErG9p
    Mar 14, 2015. 04:13 PM | Likes Like |Link to Comment
  • Canadian Discounts On Gold And Silver (March Update) [View article]
    No! CEF was trading at a premium (sometimes up to +8%) until 2011! If it comes again, it is an additional 16% on the metal price action. Hypothetical, all is about the downside risk.
    Mar 14, 2015. 04:05 PM | 1 Like Like |Link to Comment
  • Canadian Discounts On Gold And Silver (March Update) [View article]
    Thanks for your comment. Some perception bias here: the euro has lost 25% in 10 months and European companies selling in dollar are more than happy. It is of little help to be eventually right when "eventually" means losing 10 or 20 years, or even may be beyond one's life expectancy. Stocks are the best place to be for centuries, all is about having a strategy. Gold can be considered a trading instrument or an insurance, and I am well insured, but considering it an investment is a misconception. An insurance is something you buy, and you hope you will never need. So, don't buy too much.
    Mar 14, 2015. 06:27 AM | 2 Likes Like |Link to Comment
  • Books For Young And Aspiring Investors [View instapost]
    Antifragile by N. Taleb is a life-changing book.
    This week I have read Excess Return by F. Vanhaverbeke, it is an extensive due diligence process based on a broad bibliography.
    Forgive me if I speak of my book Quantitative Investing. As an obscure individual investor, I have just written a kind of manual I wish I have read before starting in the market. It got good feedbacks from novice investors and also professionals.
    Mar 13, 2015. 01:57 PM | Likes Like |Link to Comment
  • Gold Could Lose A Crucial Support Level [View article]
    Gold is bullish or flat last 12 months in all other major currencies. All arguments focused on the metal are noise, it's all about the dollar.
    Mar 12, 2015. 03:09 PM | 1 Like Like |Link to Comment
  • Betting On The Russian Black Swan [View article]
    Thanks, welcome and congrats for 1st article. In case of a Russian black swan (outside gold standard), the best insurance is probably not gold but palladium, which is mostly produced in Russia. Disclosure: long Zürchner Kantonal Bank physical palladium fund.
    Mar 11, 2015. 01:26 PM | 1 Like Like |Link to Comment
  • Forex Trading Is Far More Hazardous To Your Wealth Than Commonly Believed [View article]
    I support Lenny in his work of exposing Forex scams. Regulation in this field is even weaker than what exists to try separate legitimate MLMs and Ponzi schemes. Some retail forex brokers are targeting financially uneducated people with massive online marketing and promote delusional leverage ratios, perfectly knowing that 90% will lose all their account within 6 months. They have a preference for countries where they know that, unlike in the US, financial education is almost nonexistant in the middle class. Their "support" and "advice" aim at overtrading to generate commissions.
    Mar 6, 2015. 02:45 PM | 1 Like Like |Link to Comment
  • Alibaba: IPO Lockup Expiration [View article]
    Thanks for your article, unfortunately the 2 papers linked to support your thesis are like most academic papers in finance making a superficial use of descriptive statistics: "Fooled by Randomness". There is no clue about the distribution. If there is a fat tail downside, the probability to win may be much higher than you think for BABA, but with a big-loss risk (or the reverse if there is a fat tail upside). In other words, these "academic" articles make a limited and theoretical sense for an economist or a PhD student, none for an investor or trader in the real world.
    Mar 5, 2015. 12:49 PM | 5 Likes Like |Link to Comment
  • How To Rebalance A Market Neutral Portfolio [View article]
    I don't use margin at this time. I have a 75% hedge on this strategy, which means $1 in SPXU for $4 in the 24 stock positions. Leveraging is a choice depending on one's risk profile and other assets.
    Feb 27, 2015. 10:15 AM | Likes Like |Link to Comment
  • How To Rebalance A Market Neutral Portfolio [View article]
    the borrowing rate of UPRO was about 4.5% at IB last time I checked it. In my 16-year backtests its erases the potential gain of shorting it over staying long SPXU (using synthetic prices before inception dates).
    Feb 27, 2015. 10:06 AM | Likes Like |Link to Comment
  • How To Rebalance A Market Neutral Portfolio [View article]
    my dream :)
    Feb 24, 2015. 01:38 AM | Likes Like |Link to Comment
  • How To Rebalance A Market Neutral Portfolio [View article]
    e-mini Futures are probably the cheapest solution to take a short position on the S&P 500, but unusable for a precise rebalancing. If you follow the previous article leveraged ETFs are not so silly. Two other articles of interest on hedging with leveraged ETFs: http://bit.ly/1fYNKK6 and http://bit.ly/1ggaRN7
    Feb 23, 2015. 02:54 PM | Likes Like |Link to Comment
  • How To Rebalance A Market Neutral Portfolio [View article]
    Thanks for your comment. You can find good articles on Investopedia and Wikipedia about market neutral investing. If you have time, you can read the 3 articles linked in my introduction.
    Feb 23, 2015. 12:17 PM | Likes Like |Link to Comment
COMMENTS STATS
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