From Pescod ... starting to look like the would be emperor has no clothes
HORIZONS ALPHAPRO FUND (T-HAG) $9.16 +0.06
COXE COMMODITY STRATEGY (T-COX.UN) $8.06 +0.18
It’s not nice to say tough things about other commentators
because let’s say if you are an analyst or writer looking
at a story that does deserve negative comments, if you
actually use them, you can be assured that source will
probably never talk to you again.
You write something negative about a company President
or the guy running the financing and I suspect that
phone won’t be answered again by him, will it?
So it’s a tough role to play asking those hard questions.
Or even more importantly, writing a negative article...
but hat’s off to Fabrice Taylor on his Monday article
for the Globe and Mail when he writes about the Gartman
Fund in an article headed, “GARTMAN fund needs less talk,
more action.”
You have probably seen Mr. GARTMAN making commentary
on BNN or several other news networks and it is
amazing to see the information and commentary that he
puts out on a daily basis—almost five pages of it every
day! Up until now though, it has been hard to know
whether he ever made any money for his subscribers or
not. Always interesting, but one wondered about that.
What Taylor did was look at the GARTMAN Fund and find
out by one quick look at the chart to the left that there has
been a lot of talk and no money made.
In the interesting article, Taylor writes, “Vox rarely declares
a bubble, but we make an exception today: The
bubble is in Dennis GARTMAN. When you start calling Warren
Buffett an "idiot" while you lose money for your own
investors, you're way too big for your britches. Mr. Gartman
is, of course, author of the eponymous newsletter on
all things investable. “What's troubling about Mr. Gartman
as a money manager is that while he gives good
quotes and speaks with conviction, he doesn't invest with
quite the same resolve.” The author is very opinionated
and speaks with great conviction, which is a rare and attractive
quality. Most money managers are guarded, circumspect
bores on the record. Mr. GARTMAN is fun to read
and listen to. That's probably why he gets so much media
attention and, in turn, is able to raise money.”
Taylor continues, “Whether you're just vaguely acquainted
with his work or an avid reader, you must have
asked yourself at one point if Mr. GARTMAN actually makes
any money for himself or for his readers by trading.Until recently, there's never been a reliable way to gauge. Now there is, and it's not particularly impressive.”
Gartman’s fund the Horizons AlphaPro GARTMAN ETF is down at a time that the markets in general are up almost 30%
or better.
So much for the way GARTMAN does this buy this and hedge short against it idea which seems to make brokers money,
but maybe not their clients.
Meanwhile, there is another fund out there that also has a very high profile commentator behind it and that’s Don
Coxe’s Commodity Fund. It shows that it is also way, way down from where it was at its inception, although lately it has
been doing like almost everything else, somewhat better.
AI
