Call me bullish

Everybody is down on the markets these days, except for me. True, I do believe the economy is weak and that there is little if any real job growth, but that being said, there are still opportunities out there and now is the time to start evaluating them.

That being said, I am the last guy anyone should listen to for investment advice. As many of you loyal readers will recall, I have also said (and continue to believe) that I am not the guy to make the call about shorting Coke and going long Pepsi, but I am the guy to find the right managers to make the call. And while I don’t fancy myself a trader, I do believe that I have the skills to pick good investment managers. Why? Because I start every meeting with potential managers with two questions: “What is your strategy?” and “How do you implement it?” In my book, understanding how the money is managed is the most important piece of the investment puzzle. Still, that’s what’s often overlooked by investors who chose funds simply because of star ratings or awards or worse past performance. All three “attributes” are irrelevant to me when choosing a manager, if for no other reason the past results are no guarantee of future performance. So in these hazardous times, look for managers with strategies that make sense, ask them questions about how they follow the strategies to manage money, and, most of all, demand answers. Be wary of those who provide too much or too little information. Pick the ones that make sense and offer you simple explanations about what their strategy is and how they implement it. Remember, it is your money; you have every right to know how it is being managed.

In just two short weeks, we will be decamping to Miami for Operations for Alternatives. The event is chock full of meaningful and informative sessions focused on running efficient organizations in an ever-changing regulatory environment. If you haven’t yet registered, click here to grab one or two of the few spots left.

THINGS THAT DRIVE ME CRAZY
It is amazing to me what gets a reaction from my readers. Last week’s post about the evil of Comcast brought a bunch of folks out of the woodwork. A few people commented on my thoughts on performance, but most commented on how poor Comcast is at both customer service and product delivery. Well, thank you for your continued support – positive or negative, I appreciate the comments. Please keep them coming.