Monday, August 18, 2008
9:43 am - Weekly Report by Bill Wermine
Dear Traders,
There has been some extreme moves in commodities/ currencies of late and those who hold Man Funds need not worry. You have some of the best traders working for you to manage the volatility. Our Australian dollar denominated funds lost 5.8 % in the month of July however the gains over the last year more than absorb this loss.
Outright currency or commodity exposure could have resulted in much larger losses. In fact some hedge funds have suffered 50 % losses in the last month .
Attached is a draft article to be published in Malaysian Business on 1 September. It is based on Phillip Capital Mgt research on the AUD and my own forecast on plantation shares. Please do not circulate this article until MB publishes it
Also there will be a talk by Robert Miles, one of Warren Buffets fund managers on 20 August at the Securities Commission beginning at 9 AM. You may call 03 2282 9276 for information. He will detail some of the strategies of Warren Buffet. I plan to attend
For my managed accounts last week we bought Nestle from 27.25 to 27.50 from the proceeds raised from selling our MayBank shares. Nestle is stable, good management and deals in products that we all need. Nestle had a selldown from a high of 32.00 in April and is now resting at a weekly support having been tested several times. The tests are on low volume which means few holders wishes to sell at this level. Even with some people predicting depression, the end of the world and the collapse of the twin towers this share should hold up.
Have a good week ahead
Bill
There has been some extreme moves in commodities/ currencies of late and those who hold Man Funds need not worry. You have some of the best traders working for you to manage the volatility. Our Australian dollar denominated funds lost 5.8 % in the month of July however the gains over the last year more than absorb this loss.
Outright currency or commodity exposure could have resulted in much larger losses. In fact some hedge funds have suffered 50 % losses in the last month .
Attached is a draft article to be published in Malaysian Business on 1 September. It is based on Phillip Capital Mgt research on the AUD and my own forecast on plantation shares. Please do not circulate this article until MB publishes it
Also there will be a talk by Robert Miles, one of Warren Buffets fund managers on 20 August at the Securities Commission beginning at 9 AM. You may call 03 2282 9276 for information. He will detail some of the strategies of Warren Buffet. I plan to attend
For my managed accounts last week we bought Nestle from 27.25 to 27.50 from the proceeds raised from selling our MayBank shares. Nestle is stable, good management and deals in products that we all need. Nestle had a selldown from a high of 32.00 in April and is now resting at a weekly support having been tested several times. The tests are on low volume which means few holders wishes to sell at this level. Even with some people predicting depression, the end of the world and the collapse of the twin towers this share should hold up.
Have a good week ahead
Bill
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