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Buxton ND | This is kinda long so "BEAR" with me.
This is the news I was talking about Thursday evening, got the news from Ag Squawk boys. Then did some digging with the Google shovel.
http://www.wsj.com/articles/fortress-investment-to-close-flagship-m...
http://www.wsj.com/articles/brazil-bet-burned-fortress-investment-g...
http://www.wsj.com/articles/fortress-investment-group-is-shutting-d...
Thursday was a ugly day NOT JUST GRAINS gold/silver/copper/crude to name a few. My screen was ALL read except the US $$$. That's why I made a call to see if there was anything going on. Everything red, like as in "Commodities in General" red, is kinda a light bulb going off for me. The USD had made a strong move higher on Wednesday, there had been some other goodies going on Monday and Tuesday even back to last week.
Here's a link that you can actually read on this subject in general.
http://www.nytimes.com/2015/10/21/business/dealbook/hedge-fund-asse...
THE KEY WORDS, in the first link are "Suffering heavy loses and remediation" this is where MT comes in.
OK, Southern/Turdy/Sheepy/EMT/Tank and myself invested 100k in MT's "BULLPIT Fund" 6 years ago. Let's call it October of 2009. His timing was AWESOME**** The first couple of quarters was pretty rough, 3rd quarter its starting to turn around then EVERYTHING HITS all 5 of us are making a killing so we toss in another 100k in mid 2010,,, 3 and 4 quarters of 2010 we've made a UN-believable killing, heck why not we all toss another 100k at MT
OK very realistic, MT could have taken our 300k and turned it into the cool MILLION or more*****
Some things you need to know about MT's fund and any of these big boy investment funds.
1. They get give or take 4% of your money up front.
2. If they take the big risks and make you say 15-20% in one year,,, they get an EXTRA 5%
3. If taking higher risks and make you 30%,,, they maybe get an extra 10% above the original 4%
4. There playing with your money, easy to take big risks with YOUR money, refer to #2 and #3
5. These guys play with 100's of millions from investors or billions NOT 100k, tho you can invest 100k in some types.
6. ALL this money is playing OUR MARKETS
7. Most it not all follow the Goldmen & Sacks weighted commodity index %, which is just how much you trade in what commodities these all heavily are traded in energies (30%ish) less grains, maybe 1.2% in meats. All the number above are ballparkish estimates. One can Google G & S index weights
The 5 of us, at one point, MADE A KILLING having someone that "knows what their doing" "the experts" playing the markets FOR US. OK,,,,,, now everything has crashed and burned,,,, to INCLUDE energies (remember the weights) So we're UN-Happy campers with MT right now, this is where the word "remediation's" comes in. That word is nothing but a fancy dancy way of saying WE'RE SICK OF MT'S FUND AND WE WANT OUR MONEY BACK PERIOD.
MT has no choice but to sell his long positions in the market, he was waiting for a bounce.
Was Thursday the day that Fortress Investment Group,,,,, tossed in the towel ?
We will never know..........
Was it those poor exports sales #'s,,,nay it was "Commodities in General"
There's been many of these funds closing the doors, money leaving ALL MARKETS in general the last 2 years or so
Comes back to what Gramma said "Don't play with fire" at some point in time you get your fingers burnt enough playing the markets,,, your finally going to listen to Gramma and I think this is just what the investors of Fortress Investment Group have done.
Now gotta run and get to Church B 4 I need a name tag !!!
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MT's Hedge Fund
