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  #121  
Old 05.04.2016, 21:15
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Re: Investment fund

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Had a look at the fundsmith.co.uk
https://www.fundsmith.co.uk/global/eu/fund-factsheet
Added almost all funds to the chart they lol really correlated lol and the chart resemble the SPY chart probably a high beta. May well just invest in SPY
Since they only hold 27 investments, about half are US companies it's weird there is any correlation at all, the fund is as far removed from a closet tracker as you could get. Zero Banks, Zero Insurance, Zero car manufactures, Zero Airlines.
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  #122  
Old 05.04.2016, 21:16
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Re: Investment fund

Ho yeah yeah. If they had respectable alpha I am sure it would be in their front page.

Just compare it to an average swiss fund
https://products.swisscanto.com/info...ybmF0aXZl.html

Swisscanto (CH) Alternative Fund Diversified CHF Bb (Just a random fund)

Most of the important information are missing, like Sharpe, Max drawdown, correlation to market, Comparison to a benchmark

Like most wannabe funds now, they somehow are all new or have no history how they perform in bearish market 2008, 2012. They report the bullish market with a lower performance then the market but with high correlation

good luck lol


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Lololololol. Lol lol.

Seriusly though, we did some calculations with FMF, and, since 2011 they did produce respectable alpha over SP500 but I can't be bothered to look up the post.
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  #123  
Old 05.04.2016, 22:15
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Re: Investment fund

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Ho yeah yeah. If they had respectable alpha I am sure it would be in their front page.

Just compare it to an average swiss fund
https://products.swisscanto.com/info...ybmF0aXZl.html

Swisscanto (CH) Alternative Fund Diversified CHF Bb (Just a random fund)

Most of the important information are missing, like Sharpe, Max drawdown, correlation to market, Comparison to a benchmark

Like most wannabe funds now, they somehow are all new or have no history how they perform in bearish market 2008, 2012. They report the bullish market with a lower performance then the market but with high correlation

good luck lol
*sigh*

2012 wasn't a bear market but no matter.

Look here: Very long term investment for dummies

In the sample period, their beta to S&P500 is <0.5, and they have a higher Sharpe Ratio. I'm not claiming they are better, see all the caveats in my post about not having enough data, etc...
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  #124  
Old 06.04.2016, 09:10
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Re: Investment fund

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*sigh*

In the sample period, their beta to S&P500 is <0.5, and they have a higher Sharpe Ratio. I'm not claiming they are better, see all the caveats in my post about not having enough data, etc...
The fact you have to compute those metrics yourself clarify my point. If you assess a fund based on its historical performance you can go to
http://www.swissfunddata.ch/sfdpub/anlagefonds
sort by performance and pick those top with over 200% in return.

For same example check this library https://github.com/quantopian/pyfolio and the metrics it provide and the analysis it does.

I would only use a fund for a "Safe" investment, according to your numbers it
seems as volatile as SPY and at least 10% drawdown.
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  #125  
Old 06.04.2016, 11:41
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Re: Investment fund

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The fact you have to compute those metrics yourself clarify my point.
Yes it clarifies your point in the sense that you were wrong. You wrote their alpha must be crap because they don't quote it. They do have respectable alpha for the sample period (leaving other considerations aside). They produce better returns for less risk than SP500, which is evidence against your assertion that it is better to buy SP500. It might be better to buy SP500, but if you are a quant, you can't just handwave things away without any evidence. Leave that to discretionary traders .

Whether we had to calculate it ourselves or not is irrelevant to your point - which was that because they don't quote these numbers, they must be a high beta wannabe fund shop (they might be - but such evidence as exists points to the contrary).

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I would only use a fund for a "Safe" investment, according to your numbers it
seems as volatile as SPY and at least 10% drawdown.
I'm not sure what you are trying to say. There are a dizzying number of fund varieties so saying "I'd only use a fund for a safe investment" is like saying that "I'd only use liquids for safe drinking". Yes, in some broad sense it makes sense, but it's not helpful at all. Drinking ground rocks is probably unhealthy, at the same time, drinking hydrofluoric acid is also unhealthy.

What do you mean by "safe" investment? Stocks are considered safe by some, while others consider anything bar gold unsafe.

Dismissing this fund because it is as volatile as SPY is again strange, doubly so after demanding to see the sharpe ratio. If I have investment X that has a higher sharpe ratio than investment Y, it is almost irrelevant what is their quoted volatility. X clearly offers better return per unit of risk than Y.

The risk you end up taking in terms of volatility is trivial to regulate. In this particular case, if your "safety" limit is say 5%, and the fund runs at 10%, just take half the exposure. The difference (in the sample period) is that with fundsmith this 5% risk exposure will net you higher returns than buying SPY.
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  #126  
Old 06.04.2016, 15:43
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Re: Investment fund

http://www.bloomberg.com/quote/FSEQFIA:LX


You can monitor it here.It has been pretty volatile but so far so good.
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  #127  
Old 06.04.2016, 18:20
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Re: Investment fund

Bloomberg website is great in updating their data regularly every evening, well at least most of the time (although suddenly seldom lately), but on average much better than other sites that I find. Still my all time favourite future fund, despite ZAR's depreciation against hard currencies, is: http://www.bloomberg.com/quote/STBPTYI:SJ
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  #128  
Old 06.04.2016, 21:30
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Re: Investment fund

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Yes it clarifies your point in the sense that you were wrong. You wrote their alpha must be crap because they don't quote it. They do have respectable alpha for the sample period
Do you have money on this fund or know the people running it?
If the return is enough for you to evaluate if a fund is good or not. Good for you, go for it and good luck.

For me I need to see more metrics like I mentioned above, Drawdown, Sharpe, Leverage, Allocation, Volatility, Beta, Performance against a benchmark. How it performs against different conditions. How much Long how much Short etc..

Maybe if they published all this information, it could turn out all to be good but because of the lack of it in MY opinion it is not good for me. Also like I showed you comparing to Swisscanto even the basic information are missing and funds with incredible return you can find plenty in Swiss fund data.

Without those information they can have 200% return it would still not be good for me.

Without the information we cannot even compare to SPY, what if they have 50% only on equity but 2* leverage? May their target a difference audience
that would know or understand those metrics.
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  #129  
Old 07.04.2016, 10:43
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Re: Investment fund

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Do you have money on this fund or know the people running it?
If the return is enough for you to evaluate if a fund is good or not. Good for you, go for it and good luck.

For me I need to see more metrics like I mentioned above, Drawdown, Sharpe, Leverage, Allocation, Volatility, Beta, Performance against a benchmark. How it performs against different conditions. How much Long how much Short etc..

Maybe if they published all this information, it could turn out all to be good but because of the lack of it in MY opinion it is not good for me. Also like I showed you comparing to Swisscanto even the basic information are missing and funds with incredible return you can find plenty in Swiss fund data.

Without those information they can have 200% return it would still not be good for me.

Without the information we cannot even compare to SPY, what if they have 50% only on equity but 2* leverage? May their target a difference audience
that would know or understand those metrics.
Dude (lady?), I just linked in one of my previous posts to an older post of mine where I quote a fair number of the metrics you look for. Exactly for this fund. I compare it to SP500 too. Their NAV history is publicly available, if you understand what all the measures you ask for mean, it is trivial to calculate them.

Whatever, I don't have money in the fund and I don't care if you invest or not, but you seem to be hell bent on ignoring information even when it is spoon fed to you...
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  #130  
Old 07.04.2016, 11:26
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Re: Investment fund

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Dude (lady?), I just linked in one of my previous posts to an older post of mine where I quote a fair number of the metrics you look for. Exactly for this fund. I compare it to SP500 too. Their NAV history is publicly available, if you understand what all the measures you ask for mean, it is trivial to calculate them.

Whatever, I don't have money in the fund and I don't care if you invest or not, but you seem to be hell bent on ignoring information even when it is spoon fed to you...
Why not?
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  #131  
Old 07.04.2016, 13:47
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Re: Investment fund

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Why not?
I run my own algos
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  #132  
Old 08.04.2016, 00:42
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Re: Investment fund

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Lololololol. Lol lol.

Seriusly though, we did some calculations with FMF, and, since 2011 they did produce respectable alpha over SP500 but I can't be bothered to look up the post.
Lololololol. Lol lol.
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  #133  
Old 08.04.2016, 01:16
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Re: Investment fund

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Lololololol. Lol lol.
I have made a lot of money in the fund, it was roughly 1 Billion GBP when I first invested, it's now 5.5 Billion GBP fund. I am very pleased for anyone who took my advise to invest early on. Laugh as much as you want, but then you need a monthly pay check to live off, I don't. I have now made more money from Fundsmith than any other investment in my life.

Perhaps I am having the last laugh, I have been skiing for 4 months & will be going back to Malta at the weekend, expected temperature next week is 30 degrees.

On the down side I did do 1.5 days work this week, however my 'work' was at the Porsche development centre in Stuttgart, It was a load of fun
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  #134  
Old 08.04.2016, 08:19
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Re: Investment fund

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I have made a lot of money in the fund, it was roughly 1 Billion GBP when I first invested, it's now 5.5 Billion GBP fund. I am very pleased for anyone who took my advise to invest early on. Laugh as much as you want, but then you need a monthly pay check to live off, I don't. I have now made more money from Fundsmith than any other investment in my life.

Perhaps I am having the last laugh, I have been skiing for 4 months & will be going back to Malta at the weekend, expected temperature next week is 30 degrees.

On the down side I did do 1.5 days work this week, however my 'work' was at the Porsche development centre in Stuttgart, It was a load of fun
you are great, fatman! However, I have hard time to believe this story; since you have claimed on this very forum that you also invented system to win in casino every time.

I find it very hard to trust a person that claims that he can win against casino every time with a "special system". Especially if the system is nothing more than a gambler's fallacy.

Last edited by Meeyat; 08.04.2016 at 09:57. Reason: link corrected
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  #135  
Old 08.04.2016, 09:17
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Re: Investment fund

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you are great, fatman! However, I have hard time to believe this story; since you have claimed on this very forum that you also invented system to win in casino every time.

I find it very hard to trust a person that claims that he can win against casino every time with a "special system". Especially if the system is nothing more than a gambler's fallacy.
Believe whatever you want, I used the system till I was banned, so the casino obviously was not happy.
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  #136  
Old 08.04.2016, 09:36
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Re: Investment fund

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I have made a lot of money in the fund, it was roughly 1 Billion GBP when I first invested, it's now 5.5 Billion GBP fund. I am very pleased for anyone who took my advise to invest early on.
wow, if now I don't think they have enough information to be properly evaluated imagine early on You are a risk taker
but only those who take big risks get big reward right?
like http://www.timothysykes.com/
He lives a nice lifestyle I still don't like penny stocks though
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  #137  
Old 08.04.2016, 09:45
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Re: Investment fund

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Believe whatever you want, I used the system till I was banned, so the casino obviously was not happy.
so why wouldn't you use that system to all the casinos in the world? Alternatively, why wouldn't you ask a friend/cousin to go to the casino from which you were banned, and you share the profit?

The truth is -> your system does not, and can not work.
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  #138  
Old 08.04.2016, 09:52
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Re: Investment fund

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you are great, fatman! However, I have hard time to believe this story; since you have claimed on this very forum that you also invented system to win in casino every time.

I find it very hard to trust a person that claims that he can win against casino every time with a "special system". Especially if the system is nothing more than a gambler's fallacy.
Link doesn't work. I wonder if it is this: https://en.wikipedia.org/wiki/Martin...etting_system)

Last edited by 22 yards; 08.04.2016 at 09:59. Reason: Fixed link
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  #139  
Old 08.04.2016, 09:59
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Re: Investment fund

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Link doesn't work. I wonder if it is this: https://en.wikipedia.org/wiki/Martin...betting_system)
it is corrected now, here it is:
Where to invest my money

and the scheme is described here: https://en.wikipedia.org/wiki/Gambler's_fallacy

it stems from the basic misunderstanding of probability concept; i.e. if you believe that after 4 times red your chances of getting black next time are actually bigger.
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  #140  
Old 08.04.2016, 10:16
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Re: Investment fund

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wow, if now I don't think they have enough information to be properly evaluated imagine early on You are a risk taker
but only those who take big risks get big reward right?
like http://www.timothysykes.com/
He lives a nice lifestyle I still don't like penny stocks though
I have been following Terry Smith for over 25 years, he is unusual as he is prepared to offend people, even if he works for them:-

When working for BZW as a Banking Analyst he put out a SELL note on the parent company of his employer Barclays Bank. In-house analysts are not supposed to publish such information

When he worked for UBS Phlilips & Drew he wrote a book that questioned a number of companies accounting methods. He was told he would be sacked if he published his book. He did & was unemployable in London for 18 months until companies in his book started to loose money & 1 when bankrupt.......

Terry argues that taking higher risks does not lead to higher rewards, which is the main point of his fund.

Enjoy your day at work
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