oldowl:

Hi Norbert-

Since you are usually ahead of the curve, I am wondering if you thought of shorting financials by buying SKF after the bank stocks started to tank in the last quarter of 2007. I missed that chance.

Regards,

Ed

 

Ed --

 Norbert is offline since he is traveling. I think he'll be back Wed.

You're right Norbert is usually ahead of the curve. I believe the answer for Norbert is "yes". UH, Norbert and I as I recall all bought SKF last summer. I also bought SRS (ultrashort Real Estate) about the same time and covered both late in 2007. They may have too as I recall. I wanted to go more to a selective short approach in 2008 rather than just an entire sector. That approach seems to have worked better in 2008 than shorting an entire sector most of the time.

I know Norbert traded in and out of SKF at least once in 2008 because he posted he made 9% in a one day trade but I don't think he has had a Fin sector short on except for short term trades.

 I'm sure Norbert will get back to you if I am wrong in my recollection.

DI