(MONEY magazine) -- Working from a nondescript business park in Ellicott City, Md., a suburb of Baltimore, John Hussman is far from the Wall Street herd. So are the investment strategies for his $8 billion mutual fund group. His main stock fund hedges its bets by buying options that rise in value as the markets fall (or vice versa).
That defensiveness depresses profits in bull markets but protected his investors in the 2008 crash. His stock fund was down 9%, vs. the S&P 500's 37% tumble.
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