FAQs Frequently Asked Questions
If either of us hold a position in a stock at the time a report is written, we will say so in the report.
In terms of any stock, call it XYZ, if we had a position in stock XYZ, we may have sold it due to other considerations, and Gil and I often dont hold the same stock, let alone sell it out at the same time. Most of the time, I have no idea about what Gil has done in his account and he has no idea what I've done in mine, but it is irrelevant to our own trading as it should be to yours. How you want to handle selling a position is up to you based on your own stop-loss risk preference.
It's important that since trading styles differ, people not get caught up in what we are doing in our own accounts since it would probably cause more harm than good. For example, I dont want to know what Gil is doing in his account because, in many cases, Gil's positions will be considerably different from mine, and he may be adding to a position, while I am downsizing the same position, not because the stock is wrong, but because I may feel I'm too long exposed overall, or I may have another stock in that same industry group in which I hold a sizeable position, and want to reduce my overall exposure to that one industry group, allowing me to spread my risk. In other cases, Gil may be shorting the market because he sees quick opportunity on that side, while I may take a longer approach and hold my long position.
Our own trading is proprietary. Our positions are only disclosed when they are discussed in a report. As well, revealing our positions to the public except where required for compliance purposes is a violation of our fiduciary duty to investors for whom we manage money.
Whatever we own or don't own today, can change in an instant, hence is not meaningful - you should not be worried about what we own or don't own. Watch your own stocks according to their own price/volume action and your own risk preference.
|First published:||3 Oct 2010|
|Last updated:||3 Oct 2010|