Top 10 managers by net gains in 2013, according to LCM:
- Quantum Endowment, George Soros, $5.5 billion
- Bridgewater Pure Alpha, Ray Dalio, $2.4 billion
- Baupost, Seth Klarman, $4 billion
- Paulson & Co., John Paulson, $2.6 billion
- Appaloosa, David Tepper, $4.2 billion
- Lone Pine, Steve Mandel, $5.2 billion
- Brevan Howard Fund, Alan Howard, $500 million
- Farallon, Tom Steyer, $3 billion
- Viking, Andreas Halvorsen, $4.5 billion
- Moore Capital, Louis Moore Bacon, $2.5 billion
Market Update:
As we forecasted the DJIA took out the key resistance level at 15.750. The uptrend now is clear again and in longer perspective the market hasn’t violated in the last six weeks the bullish trend. Usually the market goes up like an escalator and down like an elevator, but seems to me this is different now. The two days rally last week deleted the 50% of six week correction and in row the last three days in the DJIA closed at the highest daily price.
Today expectation is that after the yesterday consolidation but slightly green day, we are going to have a strong bullish rally today. The upside potential is serious now and the first target is 16.000. Most of the investors left the market in the last couple of weeks. Why? Because they moved to the bond market right before the stock market rally got started last week. They act like the cat on the hot tin roof, always in move and try to be smarter than the market itself. Timing the market is a fruitless effort so don’t do that just hold your long position on DJIA or SP500.
This morning all Asia indices are in green:
- Hong Kong (Hang Seng Index) up 1.6%
- Shanghai (Shanghai Composite Index) up 0.4%
- Sydney (S&P/ASX 200) up 0.6%
- Seoul (Kospi) up 0.5%
- Mumbai (Sensex) up 0.3%
- Taipei (Taiex) up 0.4%
Look at the DJIA chart. If the 16.000 would be taken today or max. tomorrow the area is opened up to the historical highs around 16.500. We are very optimistic about the followings week rally.
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