Monday, November 26, 2007

Does anyone still think that momentum investing works?

Today's WSJ (November slump chills hopes for end of year) has an article describing the perverse incentives of money managers who piled into succesful stocks, hoping to beat the stock market indices against which their performance is judged. It was as if they forgot to read their own disclaimers, "past performance is no guarantee of future results."

The problem is that November has been a really bad year for succesful stocks:

Freeport McMoRan Copper & Gold was up 112.2% for the year at the end of October. The miner has fallen 21% this month. Monsanto was up 85.9% at the end of last month. The agriculture company has fallen 7.4% since then. Technology companies have been among the hardest hit. Apple, up 123.9% at the end of last month, is down 9.7% so far in November.
It is rare to find money managers like Vanderbilt's Bill Spitz who can recognize investment opportunities when they occur.

20 comments:

  1. Nice Article Sharing. Selective Financial Services is an investment and advisory firm that strives to provide expert solutions to create lasting values, for investors, in transactions in which we invest funds, or our financial expertise, and for the companies and individuals.

    ReplyDelete
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    4. Age: One Year, One Month
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  5. We are project funder as well as financial lender. We have BG/SBLC specifically for BUY/LEASE at a leasing price of 4%+2% of face value Issuance by HSBC London and many other 25 top AA rated Bank in Europe, Middle East or USA. We also secure funding. Also We are into the provision of short term and long term business/personal loans for both small and large scale business funds.

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  6. Finding a genuine provider of financial instrument is very challenging in this pandemic situation but we are certified Financial Instrument providers in Ireland and we are looking forward to assist in the most possible way. Presently, we only focus on BG/SBLC for Lease and Sale transactions. However, our Lease BG/SBLC is 4+2% and Sale at 32+2%.

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  8. We have a direct genuine provider for BG/SBLC specifically for lease, at leasing price of 4+2 of face value, Issuance by HSBC London/Hong Kong or any other AA rated Bank in Europe, Middle East or USA.

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  11. Standby Letter of Credit Monetization (BG/SBLC) - Leased/Purchased


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  12. We are direct providers of Fresh Cut BG, SBLC, DTC IPIP, MT103/202 GPI CASH

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    The procedure is very simple; the instrument will be reserved on euro clear to be

    verified by your bank, after verification an arrangement will be made for

    necessary bank documents and stock testing expenses, the cost of the Bank

    Guarantee will be paid after the delivery of the MT760,

    DESCRIPTION OF INSTRUMENTS:

    1. Instrument: Bank Guarantee (BG/SBLC) (Appendix A)
    2. Total Face Value: Eur 5M MIN and Eur 10B MAX (Ten Billion USD).
    3. Issuing Bank: HSBC Bank London, Credit Suisse and Deutsche Bank Frankfurt.
    4. Age: One Year, One Month
    5. Leasing Price: 6% of Face Value plus 2% commission fees to brokers.
    6. Delivery: Bank to Bank swift.
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  13. GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR BUY/LEASE
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    PRICE = 32%+2%
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  14. GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR BUY/LEASE
    AT THE BEST RATES AVAILABLE

    We offer certified and verifiable bank instruments via Swift Transmission from a genuine provider capable
    of taking up time bound transactions.

    FOR LEASING OF BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    LEASING FEE = 4%+2%

    FOR PURCHASE OF FRESH CUT BG/SBLC
    PRICE = 32%+2%
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M

    Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly. RWA ready to close leasing with any interested client in few banking days

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    ReplyDelete
  15. GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR BUY/LEASE
    AT THE BEST RATES AVAILABLE

    We offer certified and verifiable bank instruments via Swift Transmission from a genuine provider capable
    of taking up time bound transactions.

    FOR LEASING OF BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    LEASING FEE = 4%+2%

    FOR PURCHASE OF FRESH CUT BG/SBLC
    PRICE = 32%+2%
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M

    Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly. RWA ready to close leasing with any interested client in few banking days

    Name : Scott james

    Email : inquiry.securedfunding@gmail.com
    Skype : Inquiry.securedfunding@gmail.com

    ReplyDelete
  16. We are direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease/sales, our bank instrument can be engage in PPP Trading, Discounting, signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects. We do not have any broker chain in our offer or get involved in chauffeur driven offers. We deliver with time and precision as sethforth in the agreement. Our terms and Conditions are reasonable, below is our instrument description. The procedure is very simple; the instrument will be reserved on euro clear to be verified by your bank, after verification an arrangement will be made for necessary bank documents and stock testing expenses, the cost of the Bank Guarantee/Standby Letter of Credit will be paid after the delivery of the MT760, Description OF INSTRUMENTS: 1. Instrument: Bank Guarantee (BG/SBLC) 2. Total Face Value: Eur/USD 5M MIN and Eur/USD 10B MAX (Ten Billion EURO/USD). 3. Issuing Bank: HSBC Bank London, Barclay's bank London,Credit Suisse and Deutsche Bank Frankfurt. 4. Age: One Year, One Month 5. Purchasing Price: 32% of face value plus 2% commission fees Leasing Price: 4% of Face Value plus 1% commission fees. 6. Delivery: Bank to Bank swift. 7. Payment: MT-103 or MT760 8. Hard Copy: Bonded Courier within 7 banking days. We are ready to close leasing/Buying with any interested client in few banking days, if interested do not hesitate to contact me Name : LUIS SANCHEZ Email: luissanchez02214@gmail.com Skype:luissanchez02214@gmail.com whatsapp:+447921551354

    ReplyDelete
  17. GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR BUY OR LEASE AT THE BEST AVAILABLE RATES
    Dear Sir/Ma,
    We offer certified and verifiable financial bank instruments via Swift Transmission from a genuine provider capable
    of taking up time bound transactions.
    FOR LEASING OF BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    LEASING FEE = 4%+2%
    FOR PURCHASE OF FRESH CUT BG/SBLC
    PRICE = 32%+2%
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    Our BG/SBLC Financing can help you get your project funded,
    loan financing by providing you with yearly.
    RWA ready to close leasing with any interested client in few banking days
    I will be glad to share with you our working procedures.
    Name : Scott james
    Email : inquiry.securedfunding@gmail.com
    Skype : Inquiry.securedfunding@gmail.com

    ReplyDelete
  18. FINANCIAL AGENT LIMITED provides a full financial planning service to both the commercial and domestic markets. At IQ FINANCE PLC we believe that financial planning is about two things: creating wealth and protecting wealth. These two objectives are at the heart of everything we do. And, as a member of FINANCIAL AGENT LIMITED Services, we give you a small-company service but with a large-company set up – the best of both worlds.  
    You are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc. Our terms and Conditions are reasonable. 
    Leasing Price : 6%+2%
    Buying Price: 38%+2%

    Contact us for more details on our terms and procedure of transaction.

    NAME  :Jason Edward
    EMAIL :financialagentltd@gmail.com
    SKYPE :financialagentltd@gmail.com  

    ReplyDelete
  19. FINANCIAL AGENT LIMITED provides a full financial planning service to both the commercial and domestic markets. At IQ FINANCE PLC we believe that financial planning is about two things: creating wealth and protecting wealth. These two objectives are at the heart of everything we do. And, as a member of FINANCIAL AGENT LIMITED Services, we give you a small-company service but with a large-company set up – the best of both worlds.  
    You are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc. Our terms and Conditions are reasonable. 
    Leasing Price : 6%+2%
    Buying Price: 38%+2%

    Contact us for more details on our terms and procedure of transaction.

    NAME  :Jason Edward
    EMAIL :financialagentltd@gmail.com
    SKYPE :financialagentltd@gmail.com  

    ReplyDelete
  20. GENUINE BANK GUARANTEE (BG) AND STANDBY LETTER OF CREDIT (SBLC) FOR BUY OR LEASE AT THE BEST AVAILABLE RATES
    Dear Sir/Ma,
    We offer certified and verifiable financial bank instruments via Swift Transmission from a genuine provider capable
    of taking up time bound transactions.
    FOR LEASING OF BG/SBLC
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    LEASING FEE = 4%+2%
    FOR PURCHASE OF FRESH CUT BG/SBLC
    PRICE = 32%+2%
    MINIMUM FACE VALUE OF BG/SBLC = EUR/USD 1M
    Our BG/SBLC Financing can help you get your project funded,
    loan financing by providing you with yearly.
    RWA ready to close leasing with any interested client in few banking days
    I will be glad to share with you our working procedures.
    Name : Scott james
    Email : inquiry.securedfunding@gmail.com
    Skype : Inquiry.securedfunding@gmail.com

    ReplyDelete