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Komfie Manalo, Opalesque Asia: A small hedge fund based in Park City, Utah, aptly called The Insiders Fund, is gaining worldwide recognition for generating remarkable returns through its use of insider information.
The fund managed by veteran investor Harvey Sax, reported one-year returns of 33.02% net of all fees. That performance ranks the fund amongst the top 20 "long/short" hedge funds in the world.
"Everyone knows the best stock market information is inside information," said Sax, portfolio manager of The Insiders Fund. "It's common sense that no one knows a business and its prospects better than the people running it."
He explained, "Most people think that trading on insider information is illegal, but they are simply wrong. The SEC mandates that all officers, directors and 10% shareholders of a company must file a Form 4 within 48 hours after they buy or sell. As a former CEO of a publicly traded company, I can tell you the information that can be discovered on these forms is more valuable than gold."
Sax said that his investors are obviously ecstatic with the fund's performance, but more importantly, they are very comfortable with the firm's investing strategy.
"They understand looking at a company's past performance, and charts may help you guess what the future brings. But guessing just doesn't compare to following the investment decisions of the people on the i...................... To view our full article Click here
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