some large hedge funds were a bit too early on the tech bubble shorting them.. they came close to blowing out.. some closed. But the unwinding of those shorts some say led to the last stages of the runup.
Of couse it did... what do you think fuels a rally? Market moves from one set of stops to the next. When market is overbought there is more sell stops below the market vs buy stops above the market and vice versa for oversold. Just basic market mechanics.
Wisdom Tree WSDT and Michael Steinhardt's name keep popping-up all over the place. I wonder if is one of those overlooked pos stocks that we'll look back on in a few years and and regret not buying a few shares for the future. I got some for my kids. Then again this dream team fund might just not work. Who knows. http://www.wisdomtree.com/home.asp http://biz.yahoo.com/bw/070201/20070201005381.html?.v=1 Press Release Source: WisdomTree Investments, Inc. WisdomTree Investments Announces Board of Director Appointments Thursday February 1, 8:00 am ET Group Includes Win Neuger, Chairman and CEO, AIG Global Investment Group and James Manley, CEO, AtlanticPacific, LLC and Bruce Lavine, President & COO, WisdomTree Investments NEW YORK--(BUSINESS WIRE)--WisdomTree Investments, Inc. (Pink Sheets: WSDT.PK - News) announced today that the company has appointed three new Directors to its Corporate Board. The new Directors include: Win Neuger, Chairman and CEO, AIG Global Investment Group (NYSE: AIG - News), James Manley, CEO and founder, Atlantic-Pacific Capital and Bruce Lavine, President and COO, WisdomTree Investments. ADVERTISEMENT "WisdomTree continues to add expertise and investment prowess to our leadership team," said Michael Steinhardt, Chairman, WisdomTree Investments. "The dynamic at the board level has been vibrant from the start and it is my expectation that today's appointments will enhance an already enviable process. Our shareholders, clients, partners and associates should take comfort in the leadership we have assembled." In addition to Mr. Steinhardt, the newly appointed Directors join existing board members: Wharton Professor, Jeremy J. Siegel, Jonathan L. Steinberg, Frank F. Salerno, and James Robinson IV. About WisdomTree Investments, Inc. WisdomTree Investments, Inc. has developed the first family of fundamentally weighted indexes and ETFs. The WisdomTree Indexes cover all major market capitalizations, both domestically and internationally. In contrast to capitalization-weighted indexes, the WisdomTree Indexes anchor the initial weights of individual stocks to a measure of fundamental value. WisdomTree believes its approach provides investors with a viable alternative to market cap-weighted indexes. WisdomTree Trust is a Delaware statutory trust registered as an open-end investment company with the Securities and Exchange Commission. Each WisdomTree ETF is a series of WisdomTree Trust. As of January 2007, assets under management in the WisdomTree Trust are more than $1.9 billion. WisdomTree Funds are distributed by ALPS Distributors, Inc. Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. A prospectus, containing this and other important information, is available at www.wisdomtree.com. Investors should read the prospectus carefully before investing. There are risks involved with investing, including the possible loss of principal. Past performance is no guarantee of future results. é 2007 WisdomTree Investments, Inc. "WisdomTree" is a service mark of WisdomTree Investments, Inc. WisdomTree Investments, Inc. has a patent pending on the methodology and operation of its indexes. Contact: Sloane & Company Public Relations Darren Brandt/Jessica Caris 212-486-9500 dbrandt@sloanepr.com jcaris@sloanepr.com -------------------------------------------------------------------------------- Source: WisdomTree Investments, Inc.
And how the heck did WisdomTree get Steinhardt and Siegel to sign on? It's not like Steinhardt needs any more money. I guess maybe he could always use more for charity work? Siegel has a good rep to uphold. If this fund tanks...
Good questions, I was wondering the same thing last month. Evidentially they believe in the model and are willing to make a go of it. And yes it's very possible this may go bust but I feel this chance is remote. I believe this model will attract alot of cash that wants better performance but(seemingly)less risk. Time will tell.
I've been eyeing some of those Wisdom ETFs latley. Worth taking a look at. Finally caught the Bloomberg interview they've been playing all weekend. His comments on private equity were good.
NO BULL ....IS THE TITLE OF HIS BOOK HE WORKED VERY EARLY IN HIS CAREER AT OPPENHIMER WITH LEON LEVY.....WHO WROTE ...THE MIND OF WALL STREET STEINHARDT...WAS A FAMEOUS SHORT SELLER......YOU CAN READ ABOUT HIM IN MARKET WIZZARDS VOL 1 ....AND IN SOME INSTUTIONAL INVESTOR ARTICLES...AND BOOKS HE WORKED VERY VERY HARD EVERY DAY ....NOW HE GROWS BERRYS IN BEDFORD N.Y ....AND HAS PLESANT DINNER PARTYS HE IS THE FOUNDER OF WISDOM TREE... ITS A GOOD IDEA TO STUDY HIS STYLE....HE LIKE ICANN IN HIS EARLY DAYS HAS ALWAYS BEEN FAST MONEY M