Mornin - spent the morning having breakfast with a potential investor - he was receptive and said he would invest in my fund- he asked great questions and was a very quick study - he's an entrepreneur so Im not surprised.
When I left the house the SPUZ were down 5 bucks or so and I walk in to find em up 4 so yawn.
TECH strong, REITS weak, DARKMATTER weak, Im covering some of my AXL as it comes down and reshorting some CHK as it rallys.
My partner exited some of our puts for a profit when the market was down this morning...yipeee.
more later
JB
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More assets in the fund -- excellent!
ReplyDeleteYou made money on the index puts -- good news.
You know the old saw -- "you can never go broke taking a profit". Well, unfortunately it's a bit more nuanced than that simple statement would imply -- especially for you, JB -- who, as best as I can tell, is managing a fund with a partner.
If the profit(s)you take isn't (aren't) big enough, the fund can't return a sufficient percetage to the investors (or to you) and could go kapput.
Aren't these the hard and immovable facts of life in your business?
i guess they are
ReplyDeleteWasn't being critical -- just pontificating. Seems to be one of the great American passtimes. Everyone should be able to vent hot air and make their contribution to global warming. Actually, if everyone would just shut up, the planet would descend into a low temperature "winter of silence".
ReplyDeleteMaybe the way to say it is "all profits are good but may not be sufficient". This is variation on the logical condition of "necessary but not sufficient" in trying to prove some theorem or hypothesis.
fp
we are doing well - but you are right at this point its not enough
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