My Type of Fund

Betting against the herd is typically a great bet.

Below are excerpts from the latest Contrarian Partners investor letter.  You gotta love the F-u Wall Street spirit.

Dear investor,

It has been a profitable first half for Contrarian Partners. Our core investment strategy remains unchanged: to mine the research produced by investment banks every six months to establish consensus trading strategies. Then trade against them

Not everything worked out as planned:

Not all of our positions were successful. We avoided most of the troubles in southern Europe, as almost nobody alerted us that there were troubles ahead. Yet there were enough generalised fears of a sell-off in Spanish government bonds for us to increase our exposure, with painful results (-16 per cent). Regrettably, some currencies did perform as predicted; the Australian dollar and South Korean won in particular. In general, though, the advice was reassuringly poor. The markets continue to reward us for listening to the experts – then doing the opposite.

Read the whole report at

Source: The Big Picture via

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