Portfolio manager casts an optimistic eye on economy http://www.boston.com/business/arti...o_manager_casts_an_optimistic_eye_on_economy/
When the jobs loss trend reverses, he may one day be proven correct. Until then, he's talking out of his ass.
Exactly, the guy was up 85% last year on 15 billion AUM. And fwiw, he was short subprime on the highs and has been long commodities all the way up. Yeah, just another schmuck. Oh yeah, and he has the 2nd best track record of any fund manager over the last 20 years. But I'm sure he would not crack the top 100 here at ET. Too many good traders on this site.
Not his. If he had contained his comments to HOUSING only, fine. Optimistic about the economy? Show me rising corporate profits across the board in an climate of mounting job losses. That's the most fundamental truth of all - it doesn't happen. Sell all rallies.
Gutsy talk about the best performing growth fund manager for 2008. His outlook is part of what sets him apart from the pack.
As per Markit's ABX indices we flatlined since last Friday..... http://www.markit.com/information/products/category/indices/abx/history_graphs.html
Obviously Ken Heebner has been great, but the draw back to his strategy is the are highly concentrated. I just read steve cohens interview in alpha magazine and he commented that the only way to outperform is to make concentrated theme bets. Problem is if you get caught you give a way a lot with those strategies quickly.