Sun, Sep 21, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

2014 a year for superior stock picking

Monday, February 10, 2014

amb
Marty Sass
Benedicte Gravrand, Opalesque Geneva:

What a change this year brought to the U.S. stock markets. After gaining almost 30% in 2013 relatively smoothly, the S&P 500 lost 5.8% from its Jan. 15 record of 1,848.38 through Feb. 3. However, trading recent data shows some investors have been unconvinced that turmoil in emerging markets and signs of slowing growth in the U.S. and China would lead to lasting declines in the index, which had its biggest two-day rally since October on Feb. 6 and 7, reports Bloomberg.

Marty Sass, an investment veteran and CEO of New York-based investment house M.D. Sass, counts among his funds a few alternative strategies, including Maximus Partners, LP. This long/short equity hedge fund, which invests mostly in U.S. public equities, returned 2.5% in December and nearly 35% in 2013. According to him, 2014’s gains will moderate and the stock market will be choppier.

Undervaluation in 2013 With inflation declining, global economy expanding and massive unprecedented monetary stimulus, the fund’s managers increased their equity exposure throughout 2013, as well as their concentration in the largest positions that had the best risk-reward profiles.

"We carefully concentrated in our highest conviction stocks, which had very compelling upside and not that much downside," Sass explains to Opalesque......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali