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Jessi, I don’t think that having a heart and caring about human catastrophe and moving money around rationally are mutually exclusive. In Dave’s case, he is a portfolio manager so needs to do that for his job/clients. In commodity markets, wow, disaster is the name of the game. Everything is interrelated…
jessi, those dbl funds just another name for ‘socially responsible’ funds… they seem to have fallen out of style.
Problem with those funds is that no one can agree on what is or isn’t ‘socially responsible’. None of those funds will touch cigarettes or liquor. Most won’t touch defense. But you can argue just about anything else.
Sticking to today’s discussion, is Komatsu a candidate to be in this fund? They may do all those touchy feely things in the DBL prospectus (or not), and they build things. Like houses. otoh their equipment would surely be used in strip mining.
Is Toyota socially responsible? They were until the floor mats, and then they weren’t. Or, is any car company responsible?
It’s a nightmare… I just try and avoid the really egregiously evil companies (cigarettes) and don’t sweat the rest. Trying to ensure a comfortable retirement is hard enuf these days without going apeshit over whether a company is socially responsible or not.
Although we would never invest “irresponsibly” we have no duty to our investors to invest only in socially acceptable companies. these sorts of funds have been around for a long time and most of them have not delivered even market performance for their investors.
Someone who runs an ABSOLUTE return long/short fund has investors who want that, absolute return. Benefitting from investments that would likely go up in the event of tragedies like this is part of the process. We are being paid big fees to be able to spot these things.
Jessi, I don’t think that having a heart and caring about human catastrophe and moving money around rationally are mutually exclusive. In Dave’s case, he is a portfolio manager so needs to do that for his job/clients. In commodity markets, wow, disaster is the name of the game. Everything is interrelated…
Emilio isn’t interested in surprise buttsecks, David.
jessi, those dbl funds just another name for ‘socially responsible’ funds… they seem to have fallen out of style.
Problem with those funds is that no one can agree on what is or isn’t ‘socially responsible’. None of those funds will touch cigarettes or liquor. Most won’t touch defense. But you can argue just about anything else.
Sticking to today’s discussion, is Komatsu a candidate to be in this fund? They may do all those touchy feely things in the DBL prospectus (or not), and they build things. Like houses. otoh their equipment would surely be used in strip mining.
Is Toyota socially responsible? They were until the floor mats, and then they weren’t. Or, is any car company responsible?
It’s a nightmare… I just try and avoid the really egregiously evil companies (cigarettes) and don’t sweat the rest. Trying to ensure a comfortable retirement is hard enuf these days without going apeshit over whether a company is socially responsible or not.
Charlie…bring Emilio.
Jessi – “He’s not protecting them, he’s trying to make them more money by purchasing construction and pipeline stocks’
I think the basic definition of Dave’s or any other fund manager’s job would be – protect his clients investment and make them money.
No interest in boobies.
You also said I wouldn’t be there but then said you’d looked forward to seeing me. Geez! Is everyone going senile here?
I’m going bottomless.
Although we would never invest “irresponsibly” we have no duty to our investors to invest only in socially acceptable companies. these sorts of funds have been around for a long time and most of them have not delivered even market performance for their investors.
Someone who runs an ABSOLUTE return long/short fund has investors who want that, absolute return. Benefitting from investments that would likely go up in the event of tragedies like this is part of the process. We are being paid big fees to be able to spot these things.