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MA Capital Management

 
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  • What You Can Expect After The Next Correction
    Mon, Aug. 25 16 Comments

    Summary

    • Instead of speculating on the timing of the next correction, we would like to paint a picture of a possible scenario that is likely to unfold after the correction.
    • The 3 main weapons of choice have been to lower the price of money, increase the supply of money and generate wealth effect. But these are not likely to work.
    • With the current Fed Funds rates at 0 and the Fed in no hurry to hike, this policy gun is empty.
    • As the Japanese case study shows despite aggressive quantitative easing and government deficit spending, the Nikkei 225 has not budged.
    • Once the investor confidence is dented, policy measures lose their sting.
  • Don't Mess With A Bull - The S&P Rally Will Continue
    Fri, Jun. 20 SPY 9 Comments

    Summary

    • To change any type of market sentiment or direction, be it a bull market or a bear market you need a catalyst to bring about change.
    • No matter what the catalyst is, it has to bring about the change in market sentiment and that quite simply takes time.
    • Market sentiment does not react rationally to the same information all the time.
  • 2014 - Steady As She Goes
    Thu, Jun. 19 2 Comments

    Summary

    • Good news from the June FOMC highlights strong GDP growth, falling unemployment.
    • Bad news is that inflation projections have risen and QE will end by year-end.
    • Correlation between S&P 500 rise and easy Fed policies is very high. A reversal will spell trouble.
    • Volatility analysis shows a sanguine environment, but we call for the party to end Q4 of 2014.
  • A Different Way To Diversify For The Coming S&P Correction
    Fri, May. 23 WDTI, FMF 10 Comments

    Summary

    • At the recent SALT convention David Tepper spoke out saying he would not be “so freakin long.”.
    • On almost every financial distribution that you can read, market pundits and technical strategists are warning about an inevitable correction.
    • How can I structure my portfolio so that I can achieve better results when markets go down?
  • Daily Liquidity Hurts Mutual Fund Investors
    Wed, May. 7 5 Comments

    Summary

    • Investing in a fund that only allows monthly liquidity, helps prevent the investor from paying for short-term trading transaction costs.
    • The average mutual fund pays a staggering 1.44% per year in transaction costs.
    • Trading brokerage costs are paid for by all the investors in the fund.
  • Be Careful Of Style Drift In Bull Markets
    Tue, Mar. 11 Comment!

    Summary

    • One big mistake made by not just investors but also fund managers is jumping from one hot trend to the next without fully assessing the risks.
    • When a fund manager abandons his core strategy to jump on the next hot trend, it is called style drift which can have detrimental consequences.
    • Managed futures industry has seen this style drift over the last couple of years as managers have become more correlated to the S&P 500.
  • Do Hedge Funds Soak The Rich?
    Mon, Jan. 13 VT 10 Comments
  • Hiding Behind Liquidity - Assessing Managed Futures Advisors
    Dec. 27, 2013 1 Comment
  • Investing Lessons: Ghost Of Christmas Past
    Dec. 20, 2013 XLY 1 Comment
  • Best Assets For Your 2014 Portfolio
    Dec. 3, 2013 SPY 6 Comments
  • Constructing A Robust Absolute Return Portfolio
    Jul. 31, 2013 4 Comments
  • The Next Credit Driven Crisis
    Jun. 26, 2013 11 Comments
  • Warren Buffett Would Not Just Buy And Hold The S&P 500
    May. 9, 2013 17 Comments
  • Repercussions Of The Reinhart, Rogoff Flawed Analysis
    Apr. 30, 2013 6 Comments
  • Bonds Are Cheap, Gold Not So
    Apr. 11, 2013 8 Comments
  • One Of The Most Common Lies Told By Mutual Fund Salespeople
    Mar. 31, 2013 16 Comments
  • Investment Vs. Investor Returns
    Mar. 15, 2013 SPY, DIA 10 Comments
  • A Statistical Analysis Of S&P 500
    Feb. 11, 2013 SPY 7 Comments
  • Predictions Or Predilections For 2013?
    Jan. 23, 2013 FEZ, DBC, VNQ Comment!
  • Why Have Managed Futures Strategies Underperformed Recently?
    Dec. 13, 2012 14 Comments
  • Fiscal Cliff - A Lesson From Japan
    Dec. 5, 2012 EUO, PSQ, TLT 3 Comments
  • Fiscal Austerity To Bring On The Next Risk-Off Phase
    Nov. 12, 2012 SH, DOG, PSQ 6 Comments
  • Seeking Alternatives: A 4 Step Approach
    Nov. 9, 2012 Comment!
  • Bold Government Steps Leading The Indian Rupee Higher
    Sep. 20, 2012 ICN Comment!
  • Fed Up: Bernanke Declares War On The Poor
    Sep. 14, 2012 SPY, GLD, UUP 36 Comments
  • Buy The Indian Rupee For Some Quick Gains
    Aug. 9, 2012 ICN, EPI 3 Comments
  • Ineffective Quantitative Easing Will Lead To Fiscal Stimulus Measures
    Jul. 15, 2012 34 Comments
  • Impending Central Bank Stimuli Will Help Gold And Stocks
    Jun. 7, 2012 GLD, QQQ, SLV 5 Comments
  • Money Printing To Bring Forth The Next Risk-On Phase
    May. 26, 2012 GLD, SLV 26 Comments
  • Considering Oil, Copper For A Quick Bounce
    May. 22, 2012 JJC, OIL, USO 2 Comments
  • Caution: JOBS Act To Unleash Hedge Fund Advertising
    May. 4, 2012 HDG 1 Comment
  • Disturbing Trends Arising From The Q1 GDP
    May. 1, 2012 Comment!