STAY IN STOCKS OR “SELL IN MAY”?

“Sell in May and go away” is strategy that some investors and traders are likely contemplating right now. The adage is based on the historically weaker performance of stocks during the May through October time period. Adherents shift from stocks to cash at the beginning of May and then invest back into stocks at the start of November.

Why John Burbank’s Passport Capital Is Net Short: Q1 Letter

John Burbank’s hedge fund firm Passport Capital is “net short both in dollar and beta terms” according to their first quarter letter to investors.  But even with this positioning, they obviously still have some sizable longs so we’ve also posted up Passport’s top 10 holdings. 

Their Passport Global Fund started the quarter with net exposu…

Bill Ackman on Burger King and Barnes & Noble

The founder of hedge fund Pershing Square, Bill Ackman, guest hosted CNBC’s Squawk Box yesterday morning and we wanted to highlight his comments for those who might have missed them.  His first segment talked about Barnes & Noble (due to the Microsoft investment news) as well as his position in Burger King.

On Barnes & Noble: He joked t…

Ackman on His Hong Kong Dollar Trade

It’s been so long since we’ve seen commentary about Bill Ackman’s Hong Kong Dollar trade that we wanted to quickly highlight his comments on CNBC yesterday.

He says Pershing Square still has the trade on and they believe it’s a good play.  He says that, “if you own the options, it’s a 50:1 or 80:1 payoff, even if you renew the bet every 18 mont…

Purmamarca, Argentina

Yesterday we drove from Tucumán north about 4 1/2 hours to the town of Tilcara, which is about 40-50 miles south of the northern border of Argentina and Bolivia, and about an hour by car north of the city of Jujuy, which is the northernmost point in Argentina that you can fly into. Since this is a 4-day weekend, we had no choice but to stay one nigh…

Richard Russell – A Chapter of the World Has Come to an End

With continued volatility in global markets, the Godfather of newsletter writers, Richard Russell, had some very interesting charts and warnings in his latest commentary. Here is what Russell had to say: “I woke up this morning with the distinct feeling that a chapter of the world had come to an end. I felt that a new world is being heralded. W…