I am an equity analyst and founding member of a triple digit million dollar fund. Oh, and I think technicals are nonsense. ...and no, the picture isn't me but a notable politician, and yes Mr. Samaras has been replaced! I am fully accountable for the recommendations I make.... On my Instablog I give a recap of ALL picks and their performance http://seekingalpha.com/author/redrut/instablog
Je suis un quidam.
Here to learn from others and share my personal experience with managing (mismanaging?) our retirement funds. I want to hear from all folks no matter their bias - long, short, bear, bull or even spam bots.
WHO AM I?
Old (55+). BS & MBA in finance. 17 years in financial services industry. Owned/operated small business for 8 years. Professional investor for past 13 years.
The best description would be swing trader/investor over multiple time frames. My objective is to outperform the market on a risk adjusted basis. I treat my investing as a business by measuring my performance continually and setting up systems that force me to reexamine my decisions and manage portfolio risk. I actively invest about 40% of my net worth and continually move profits from an active to passive (indexed) platform. I believe a indexed/diversified portfolio approach is best for most (certainly my wife) but also believe that trading/investing is a skill that some can capitalize on.
I currently own long term stocks like JNJ/PEP/NSRGY that I would be happy to hold forever, however, I will sell if they reach an extreme overvalued level. Most of my active trading involves opportunities that will occur over a period of 1 week to 6 months.
SOME OBSERVATIONS ABOUT MARKETS AND INVESTING
The best description of markets I've ever heard is that "Markets Are Social Systems" (Ray Dalio, Bridgewater). Prior to that I'd heard markets described as "A Game" from people as diverse as Joseph Granville and Bill Drunkenmiller. The description of markets as "A Game" never really sat right for me.... it was missing something. The "Social System" description is perfect for me because it reminds me that not everyone thinks or is looking at the market like I am.
I believe that investing is like most professions. Some will be better than average, some worse than average, and the vast majority average. Those above average will educate themselves, spend more time on their profession, treat investing seriously and have a love for the "game".
For me... the most important characteristic for success is self reflection... the ability to question yourself and your decisions. If you can't take a loss, you will never outperform.
In most professions it pays to specialize, same with respect to investing. Concentrate on what you do best, gain an edge.
If you are looking at the same thing as everyone else, what are the odds that you have special insight? If you do a professional search, you will find that very few professional investors in the large cap space are generating much alpha. Too many people looking at the same thing.
In crisis there is opportunity (Yes, old chinese proverb) . Pay attention to how you "feel" when you invest. If you are frightened to hit the "buy" button, it's probably a good trade.
Spend more time thinking and less time acting. Accept the feedback the market provides... it's not personal.
Favorite Quote.... "The Truth is rarely pure and never simple" Oscar Wilde 1895. Yes, picked that up in a Irish Bar (Cairns AUS).
2014 +12.4% 2015 -1.1%
I am an Applied Math and Computer Science major at the University of Rochester. My work is mostly math and programming oriented but I've been passionate about broad capital markets for a while now.
Mr. Judkowski is a managing member of Waterloo International Advisors, LLC. He co-managed a short-biased hedge fund from 2000-2013. Over a 20 year period, Mr. Judkowski published short sell reports (The Accounting Workout (1993-1994) and The Short Seller’s Report (1996-2006)) and co-published red flag newsletters (Balance Sheet Watch (1998-2006) and Earnings Workout (2011-2012)).
His firm currently serves as sub-advisor to Logan Capital Management, which offers a long/short strategy through separately managed accounts and a mutual fund.
For more information, visit www.logancapital.com or www.logancapitalfunds.com