Vito Maida's spring commentary

[Guest 50centdollars]

See attached.

Q12017NL.pdf

[investmd]

6% return over 17 years. Similar over past 5 years. Why does he not report 10 year result?

It's clear that he doesn't see value in current environment. Has been bearish for a long time. What is not clear is what his strategy is to navigate through current environment of high valuations. The only thing he mentions is that he is hoping for a correction in banking stocks to buy more and counting on higher oil price a year from now (Really?? This macro bet was a surprise for me to read from a deep value type investor!). 

 

He's a brilliant investor, with strong ethics and aligned interests. But as with so many, the strategy doesn't work when charging to invest $'s for others. Perplexing! and frustrating.