He said he shorted to hedge against his long positions a hedge. guys like him can't have all cash hedge funds cause cash is a position but not a hedge funds..The guy is a hedge fund and that is what he is selling. He makes his living on clients giving him money not on trading.
his newsletter has a pretty big following, whether or not what he says on CNBC is timely is another matter.
I subscribe and read it daily. It's a great summary of what's happened overnight to wake up to but pricey. And yes, he does write a lot like he talks on CNBC. He is truthful but colors everything to make himself look better. It does get a little tedious...
$400/mo. for individuals, $500 for office at a single address up to a certain number of employees (around 12-15, I think). I agree that it is a useful summary of overnight situation. He writes it about 2 or 3 am ET so it arrives in your email around 5 or 6 am.....but it loses a lot of its value if you don't read it in early am. Most of his moves involve both short and long trades, sometimes he will buy some stocks and simultaneously sell index futures, or do pair trades.....I guess that is how hedge funds operate. His philosophy seems to be that he doesn't plan to make a lot in bull markets, nor lose much in bear markets. Stosh
I'm always amused by these kinds of statements. So Buffetts methods would only be good for those who "don't want to make a living" eh? As near as I can tell, Buffett started his first investment partnership in 1956 with around $100K (that he had saved). By 1962 he had over $1 million in that and several other partnerships that he had started. So right there, it looks to me like he made about $150K per year from that source alone. Keep in mind this was back in the 1950s. By 2008 he was worth something like $60 Billion. So from 1962 to 2008 he evidently grew his net worth by something like $59 Billion, about $1.5 Billion a year. All this took place while some people were busy "earning a living". LOL. Just a suggestion for you. You might give "making a fortune" a shot, instead of earning a living. OldTrader
Gartman is a momentum player. Yes he changes his mind often, but he plays the momentum card. So I really cant blame him. Though if there is one thing I like about him is that he plays what he sees, not what he thinks. All too often I hear from the commentators (especially when the market was going down) that you can't fight the ticker. NOW that prices are going up, well, that is just not logical and not right. You should be shorting. In other words fighting the ticker. I have heard all too often from Gartman when he says, "the price action says so and hence I have to follow..."
Where did he save the 100k from? Shoeshining? He is a son of a filthy rich investment expert and congressman just like Trump was born into money and connection. Buffet is a simple guy buying the best of breed in industries with high barrier to entry. Trading the Business cycle. Buy s low and sells high.Just look at how much the mkt went up since 1952. By exluding the garbadge stocks average down on BNI on its cycle down + spice it up with some growth stocks whenever the cycle benefits the growth theme and sellit when thetrade gets crowded. In addition explain yourself that you dont care about short term so none ever can blame you for when GS moves against you 50%.The big secret is simplicity. Virtually unlimited buying power unlimited time horizon and unbeateable highbarrier to entry stocks beaten down by the current business cycle ( monetary environment ..recession-inflation wave). If you recall back then in 2000+ he said he did not understand th einternet stocks...well he did....most of them collapsed.....Now he could buy AMZN the best only retailer on dips...that is all.... But just check out his portfolio components... and follow the sells and buys according to the business cycle (I can do it ...and you can do it...)