Bob Markman

Momentum for Infrastructure Is Building in Both U.S. and China

If you are interested in this investing theme, look into the new Markman Global Build-Out Fund (MGBOX), the first no load infrastructure development fund. One stop diversification in all the major players and sectors. More info at markman.com

Finally, Three Reasons to Buy

Re Buffet's 1979 call: Yes, he was right over the succeeding twenty years, but let's not forget that he was very, very early (read: wrong) for the first three years. Recall that the Great Bull Market did not begin until August 1982! Can you imagine the pain if Buffet is 'right' in the same way today? Who could, at this point, stand another couple of years of losses before the whole thing finally turns. Maybe Waren can. But do you have a similar $40 billion cushion? Moral: be careful with your historic analogies; sometime they say exactly the opposite of what you intend.

The Lowdown on the New ETF-Based, IQ Alpha Hedge Open-Ended Mutual Fund

Wow, great photo. I suggest titling it: "If CNBC were in charge of traffic lights."

Learning From Bill Miller's Recent Underperformance

Aside from the unneeded ad hominen attack on Miller, Jack Swanson is right about Ken Heebner, one of my personal investment heroes. As fund manager myself (MTRPX) (outperforming 96% of my ;arge cap growth peers over the past five years) I know from practical experience that low turnover buy/hold managers almost inevitable revert to the mean. Heebner has been criticized--wrongly--b... ignorant observers who decry his mad bomber high turnover concetrated style. The reality is that he has forgotten more about investing than most 'pundits' ever knew. Especially the English Lit majors at Morningstar. It is my unceonventional belief that a good track record accopaied by high turnover is much more projectable into the future than a good record acheived with low turnover. Why? Ask yourself, which .300 hitter would you send up to pinch hit in the bottom of the ninth: the one who is 3 for ten, or the one who is 50 for 150? More sucessful data points give you a better chance at future results, right? The fund industry rpomotes low turnover solely because most successful funds are simply TOO BIG to move rapidly and frequently. It like the 350 pound guy who pooh-poohs working out--not bacause its bad, but because he couldn't do it even if he wanted.

Abusive Comments, Blog Aggregators and Freedom of Speech

Hard hitting comment should be a part of any rigorous investment discussion. Even Ritholz would agree, as demonstrated by his breezy style on his own blog. Nevertheless, I'm tired of the infantiulization of our society and it's time we adults started acting like adults--especially on an investment site. I see nothing wrong with an ediotor using a reasonable screen to keep the adolescents out of the mix. Grow up and act/write like an adult. I, for one am tired of these blog versions of gangsta rap!