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October Letter - Trapeze Asset Management


Eric50
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Guest kawikaho

I posted about Trapeze awhile back in a post titled something like, "Mean reversion".  I've been following these guys for quite some time.  I almost invested with them in 2007-08, but I figured after 10 years of solid out performance, there was bound to be some mean reversion.  Also, I wanted to stay in cash to avoid the housing bubble blow up.  Boy, did they ever mean revert.  They went from something like 33% CAGR for 10 years to 8-9% CAGR.  That's extremely humbling. 

 

I need to find an asset manager that:

 

1) recognizes and identifies asset bubbles

2) is able to look at macro before doing bottom up analysis

3) has some solid risk management (like cut your losses EARLY)

 

 

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"I need to find an asset manager that:

 

1) recognizes and identifies asset bubbles

2) is able to look at macro before doing bottom up analysis

3) has some solid risk management (like cut your losses EARLY)"

 

GMO- Jeremy Grantham is the best I have ever seen...Fairfax is right there as well.

 

Dazel.

 

 

 

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Guest kawikaho

kawikaho, I do not say this to be cruel, but you may have a better chance finding the tooth fairy or santa claus (I have young kids)  ;D

 

Haha. 

 

Hi Dazel, yes, FFH is very solid.  I am waiting for (actually, hoping is more like it) a pullback before jumping back in.  I'm not much of a trader, but there is one rule I live by: sell any stock that has put in a huge move after less than a month.  And, I wish I could get in on GMO or the Quantum Fund, but I do not meet the accredited investor requirements.  I need over a million in liquidity, and I'm not there yet. 

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