Hows the fund doing?
Next to other long-short funds, it’s doing better than most. But on an absolute basis, no, we just turned negative on Friday, Oct. 22. Q: What’s your thinking about that? A: That’s an open-ended question! Q: I guess so. Is it a problem? Are you disappointed? Is it nothing really to worry about? A: Well, I don’t think it’s anything to worry about it, I’m comfortable personally with it, but I don’t know that all the shareholders are. Q: To what do you attribute the decline? A: Most recently it would be, well, we’ve taken a stance at this junction of being pretty heavily net short, even for a fund like ours. Q: What’s your outlook? A: It clearly is bearish, for the moment anyway. We’re in the camp that thinks that Fed tightening or a bias to Fed tightening with high [stock] valuation levels and a whole [lot of other] reasons leads us to be looking at a rough market. In the short-term, anyway. Q: When you say short-term, does that mean three months, maybe? A: No. Short-term to me is until
