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-----Original Message-----
From: charles meyer <chmeyer@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, July 22, 1998 6:53 PM
Subject: Fw: PRUDENT BEAR NOT PRUDENT?
>OK guys; it's my own fault for not analyzing their portfolio
>right?
>
>Charles.
>
>----------
>> From: charles meyer <chmeyer@xxxxxxxx>
>> To: marketing@xxxxxxxxxxxxxxx
>> Subject: PRUDENT BEAR NOT PRUDENT?
>> Date: Wednesday, July 22, 1998 5:44 PM
>>
>> The performance of your fund has been; well putting it kindly, horrible.
>> To add insult to injury I bought shares in your fund a few days ago;
>> specifically on July 17 when the NAV was 5.65 in order to hedge a
>> portion of my portfolio thinking the market was too high. I felt com-
>> fortable that my decision was a correct one for soon thereafter the
>> market tanked. As of today, the S&P has declined 1.91% and the
>> OTC has declined 1.94%. And what do I have to show for my judg-
>> ment for buying Prudent Bear? Well, tonight's NAV is UNCHANGED.
>> I think you should either do a better job or change the name of your
>> fund. Next time I'll know to make a more 'prudent' chocie in my
>> selection of funds that will perform according to expectations. When
>> the market declines, I expect a fund whose name is Prudent Bear
>> to make money. I am alerting one of my discussion forums about
>> this obvious flaw.
Hi Charles,
Sounds like the goal of this fund is to NOT LOOSE MONEY in a down
market, rather than MAKE MONEY in a down market, a major difference. Next
time use the Rydex Ursa Fund, but watch out if you are wrong and the market
moves up.
Good luck and good
trading,
Ray
Raffurty
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