Hey E, I asked the same thing last night...of course Timmy didn't answer. Thankfully Atticus found this.... Q- How can a short fund possibly lose money over the last few weeks? A- The "fund manager" is an awful trader and has been wasting his time trying to sell snake oil
When are you gonna start up your chat room and your home study course and mentoring services? Gee whiz Timmee such a great guy you are! zippity doo dah!
Timmay is working on his reply to the above question regarding his "risk management" philosophy. (Timmay likely will say: "uh... got no risk management ...its all in my upcoming book...learn from my incompetence")
Not so sure about that. He's been asked and asked about his July return, and no answer. The silence speaks volumes to me, b/c you know he would be spewing if he had any type of good performance to help pimp books. Timmay, what is your July and YTD % return please ?
1. I'm not going to post my returns because that would be against industry regulations. It's that simple. Anyway, I'm sure you guys will dig it up soon enough and debate about it for a while, ooooh how I wish I could respond. 2. I never blamed my losses on the strong market-I merely stated the past 4 year's definitely hasn't been the best time to run a short bias fund and yet I was still ranked the #1 Short Bias Fund from 2003-2006 (despite the many claims that I only made money in the bubble). Even so, throughout my career, I've made tons of mistakes, all of which I detail in my book for your benefit. Do you guys not understand that we traders continually make the same mistakes, but its our inability to admit them and learn from them that really holds us back. I will not commit the ultimate blunder by not sharing my experiences. 3. You need to get it through your heads that it's not just about how much money you manage or your percent return, it's your ability to take advantage of future opportunities. An example that comes to mind is Pete Sampras. Pete was a highly ranked child player, but dropped off the national scene when he changed his game in order to aim for long-term success, rather than just short-term. He would the hit the ball as hard as possible and most of the time it went out, but he gradually learned and in time he hit the ball harder than anybody else and became the #1 player in the world for nearly a decade. It's not just about short-term success--I'm 26 years old, I have a whole lifetime ahead of trading and investing and I will use the lessons I've learned in my 9 year roller coaster financial journey for the rest of my life.
LIAR ! It's not against industry regulations, we've already been over this. Your peformance results could easily be on this thread. Obviously you don't want to embarrass yourself. And all these years I was told % return is important.
Ha, you're right, we have been over this, I don't know why you can't understand it. Seriously, let me buy you some reading classes, illiteracy is so 1980s. Or you can talk to my lawyers, they'll only charge you $500 an hour to educate you in SEC regulations. If I were you, I'd choose reading classes, trying to learn all the SEC regulations is boooooring. And % return does matter, but not for judging the value of a book's lessons. Some of these billionaires have great returns, but the lessons they teach aren't very applicable to everyday traders and investors because they're going for steady growth on huge capital bases. We have the luxury of going for home runs, while risking the occasional strike out. If somebody like you or me were to have 5 years of small losses, but learn a ton, and put all those lessons together to make a few investments that yields them 1,000 times their money, those 5 years were well spent. As for me, I've only had 1.5 years of losses, but the lessons they've taught me greatly outnumber the years I spent making 200 times my money.
timmay, you're really embarrassing yourself w your stupid comebacks. But hey, if you think its in your best interest to be a schmuck, keep it up. Yes, we've already been over this. Everyone hedge fund manager and their mother who goes on CNBC has their AUM told BEFORE they are interviewed. You, on the other hand, have "lawyers" who told you that you cannot say your AUM on CNBC. Hmm. Now who are we to believe, all the people ever interviewed on CNBC, or a punk who hides behind fake regulations and slimy lawyers, not to mention disrespects their own mother on tv, and pours windex on their roommates bedding. BTW $300 per hour is nothing if you're a good lawyer. You are embarrassed w respect to your July performance, or you somehow would've gotten it to ET to crow. It'll come out, hopefully atticus will post it. But I guarantee your July performance sucks or you would have happily exposed it on ET, one legal way or another. Lastly, I co-manage a 9 figure hedge fund (we began in 2003 w $10M) , and MY 2007 performance is: +10% in July, +18% YTD. Come and get me sec.