The Abyss

Wednesday, July 16, 2008

The lack of retail New energy Funds

So hard to find a retail fund that invests in alternative energy.

Most of them have mandates I don't like. "Investing in companies that profit from global climate change" is hardly the same as investing in alternative energy. So why is everyone releasing a global climate change fund? (The answer is fad. Investment is extremely faddish and fund houses like to copy cat each other)

Dear fund houses. Stop flooding us with commodities funds already.

ME WANT MORE RETAIL ALTERNATIVE ENERGY FUNDS!

For once in your lives help us look at future trends. Not trends that are well under way.

Meanwhile thank God for small mercies like higher cost private banking funds to satisfy my alternative energy hunger.

Tuesday, July 15, 2008

Bill Miller, should we write him off?

The bear market is officially here. Which means i'm officially excited. Not that I haven't been excited for a while now. I've been excited since I started my portfolio in october at perhaps one of the worse possible times. Thank God I don't rely on market timing cause I definitely suck at it. It's time to accumulate but where?

After googling for ideas I realized that I would really like to own a piece of google, at whatever price it was trading at. I also vaguely remembered reading in a book about google's success about how fund manager Bill Miller was one of the first few to notice google's potential. Now that's a fund manager I want on my team.

But alas. After beating the market for 15 years in a row. He's been down lately an to a huge extent. In fact his recent bets were major failures. Bear stearns. Oops. Property. Oops. Missing out on commodities surge. Oops. There are people who are saying his success was a fluke, a lucky streak.

Not everyone is lucky. How many lazy people do you know get lucky and successful. .

I'm betting on his comeback. I hope i'm right. But even if i'm wrong. His fund is already down 30% so I'm buying at a discount and since it's only a small part of my portfolio, I'm sleeping easy at night.