I run a LO fund for my high school's investment club and am down 3-4% over the past month. I would have hedged, but the retarded board will not give me permission for derivatives/margin. There's an upcoming meeting to discuss the future of the fund, any advice for bullshitting my way out of this one?
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tell them to look at the SnP and thank you lol
Down 3-4% in an unhedged long-only strategy in a month where the S&P 500 is down >10% is excellent. Nothing to explain, you should be discussing how great the relative performance has been.
Troll
Izzy will be seeding you with $1b any second now, grats and start brainstorm fund names
Awesome, I don't want him poaching my members though...
Congrats man, future certified market timer
Sounds like you need to push half the portfolio into SPXS (Direxion Daily S&P 500 Bear 3X Shares). You're still long, but you're (aggressively) short the market.
I'm vice chair for my university's student-led investment fund. We're currently down about 6% over last couple of weeks. I wouldn't worry at all - if the board knew the market, they wouldn't have a problem with you.
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