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« A Great Question from Barry Ritholtz | Main | The Investment World and Public Policy »

August 24, 2008

Comments

oldprof

Tim -- Good question.

It was a mistake. I am providing an accurate diary of what we actually do. We run the model on two computers, verifying results daily. In this case one of the databases was corrupted so we had the "wrong" position. Since I was traveling, the verification was delayed. Since I know something about the model, it did not "feel" right and I checked. We sold the position, and we were lucky to make a little on the trade.

This sort of thing happens everywhere, including every place I have worked. I have some great stories about mistaken trades -- mostly losers! We could have just reported the recommended trades, but I prefer to provide an honest accounting of what we did.

Good eye!

Thanks,

Jeff

Tim

Jeff, what is the story on your position in ILF, cruising along at #50 of your ranking? Taking a long shot, or a little contrarian?

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