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<title><![CDATA[Schwab Hedged Equity Select]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/forumview?bn=31766</link>
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<lastBuildDate>Sat, 11 Aug 2007 00:50:27 GMT</lastBuildDate>
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<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/forumview?bn=31766</link>
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<title><![CDATA[August 8, 9, 10]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=15&amp;mid=15&amp;tof=1&amp;off=1</link>
<description><![CDATA[August 8, 9, 10 prices for:

SWHEX: 15.31, 14.62 (-4.51%), 15.31 (+4.72%)
SP500: 1,497.49, 1,453.09 (-2.96%), 1,453.64 (+.038%)

Probable explanation is that SWHEX is/was quite exposed on the long side to financial services, a sector that was whipsawed badly. It didn't act as a "hedged portfolio".]]></description>
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<pubDate>Sat, 11 Aug 2007 00:50:27 GMT</pubDate>
<author><![CDATA[yogibearbulldsl]]></author>
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<title><![CDATA[Re: I'm out]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=10&amp;mid=14&amp;tof=2&amp;off=1</link>
<description><![CDATA[Can't blame you for selling.   These funds have lost their credibility.]]></description>
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<pubDate>Fri, 10 Aug 2007 18:06:36 GMT</pubDate>
<author><![CDATA[]]></author>
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<title><![CDATA[Re: I'm out]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=10&amp;mid=13&amp;tof=3&amp;off=1</link>
<description><![CDATA[SWHEX was the only Schwab fund I owned so I don't know about the others.

I know they launched an International Real Estate fund (SWAIX) last month. That one's been a loser so far. Glad I didn't buy in.]]></description>
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<pubDate>Fri, 10 Aug 2007 18:06:35 GMT</pubDate>
<author><![CDATA[k888u]]></author>
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<title><![CDATA[Re: I'm out]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=10&amp;mid=12&amp;tof=4&amp;off=1</link>
<description><![CDATA[The recent dropoff is not specific to SWHIX, but applies to certain hedged (long-short) funds that seem to have similar models.   
If I understand correctly, it boils down to the fact that some large hedge funds have been performing poorly and at the same time are allowing fund investors to redeem (sell their fund shares). This creates a spiral effect, as hedge funds are then forced to sell their positions to raise cash for the redemptions. 
Since they are often leveraged, these positions can be large...massively large...and this has dumping has squeezed others in the same small space who hold the same long/short positions.   
Similarly, "carry trades" are also unwinding (buying a low-yielding currency, investing it in a higher yielding currency) as the sub-prime debt story plays out. 

Its a mess. But its not just SWHIX.]]></description>
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<pubDate>Fri, 10 Aug 2007 17:44:54 GMT</pubDate>
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<title><![CDATA[I'm out]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=10&amp;mid=10&amp;tof=5&amp;off=1</link>
<description><![CDATA[I'm done with this fund. Not only has its performance dwindled every year since it started in 2002, it's not protecting the downside like I thought it would.

I'm moving to PRWCX, it's got much better downside protection and cheaper expense ratio.]]></description>
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<pubDate>Fri, 10 Aug 2007 18:06:35 GMT</pubDate>
<author><![CDATA[k888u]]></author>
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<title><![CDATA[Re: What is going on here?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=6&amp;mid=9&amp;tof=6&amp;off=1</link>
<description><![CDATA[I think they owe the investors an explanation.   It should be fairly simple to add up the gains and losses on the respective longs and shorts if the portfolio is known.   Presumably losses on AB stocks and gains on DF stocks.   I also have GATEX and HSGFX, which are market neutral at the moment and are not being unduely affected.   What does this say about the schwab ABC.. rating system?   Or is the fund doing something other than following that system? That last question is the one that really bothers me.]]></description>
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<pubDate>Thu, 09 Aug 2007 23:54:56 GMT</pubDate>
<author><![CDATA[placidmeadows]]></author>
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<title><![CDATA[Another failure of the Long-Short/Market Neutral Funds]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=8&amp;mid=8&amp;tof=7&amp;off=1</link>
<description><![CDATA[Thursday

TFSMX - 4.84%
ALHIX - 4.62%
SWHEX - 4.51%
JAMNX - 3.35%]]></description>
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<pubDate>Thu, 09 Aug 2007 22:09:26 GMT</pubDate>
<author><![CDATA[Waylock]]></author>
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<title><![CDATA[Re: What is going on here?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=6&amp;mid=7&amp;tof=8&amp;off=1</link>
<description><![CDATA[See Waylock's posting in the other thread. It's not a Schwab issue, per se, but everyone is getting hit in these types of funds. My other sources confirm David Faber's quote.

I'm not happy about it, but such is investing.]]></description>
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<pubDate>Thu, 09 Aug 2007 23:54:56 GMT</pubDate>
<author><![CDATA[acoti]]></author>
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<title><![CDATA[Re: Love This Fund]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=1&amp;mid=5&amp;tof=9&amp;off=1</link>
<description><![CDATA[Thanks, Waylock, for these numbers. It's quite disappointing to see the overall market go up and SWHEX go down, albeit not as much as its direct competitors. It's been a tough six months for SWHEX, and I actually sold about a quarter of my holdings in it on Monday. However, I plan to keep the rest long term. It will be interesting to see how it performs the rest of the year.]]></description>
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<pubDate>Thu, 09 Aug 2007 02:43:55 GMT</pubDate>
<author><![CDATA[acoti]]></author>
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<title><![CDATA[Re: Love This Fund]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=1&amp;mid=4&amp;tof=10&amp;off=1</link>
<description><![CDATA[There was a pattern today in the Market Neutral or Long-Short Funds.

ALHIX    - 5.28%
JAMNX   - 4.70%
TFSMX   - 2.82%
SWHEX   - 2.55%

David Faber said late today on CNBC that the quantitative guys were having a hard time now.   The above seems to be evidence of that statement.]]></description>
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<pubDate>Thu, 09 Aug 2007 02:43:55 GMT</pubDate>
<author><![CDATA[Waylock]]></author>
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<title><![CDATA[Re: Love This Fund]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=1&amp;mid=3&amp;tof=11&amp;off=1</link>
<description><![CDATA[I've been in this fund for a few years and have admired their success rate. But in the last week it's lost a whole year of returns, down to levels we haven't seen since August 25, 2006. Should we worry?]]></description>
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<pubDate>Thu, 09 Aug 2007 01:57:30 GMT</pubDate>
<author><![CDATA[lenvm]]></author>
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<title><![CDATA[Re: Love This Fund]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=1&amp;mid=2&amp;tof=12&amp;off=1</link>
<description><![CDATA[Me, too. Been in this one since it started and have been more than happy with its consistent returns. Will underperform slightly in a strong bull market, but in the long-run, it will outperform as well as reduce volatility in one's portfolio -- a nice mix.]]></description>
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<pubDate>Thu, 09 Aug 2007 01:02:23 GMT</pubDate>
<author><![CDATA[acoti]]></author>
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<title><![CDATA[Love This Fund]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_S/threadview?m=tm&amp;bn=31766&amp;tid=1&amp;mid=1&amp;tof=13&amp;off=1</link>
<description><![CDATA[This is my favorite chicken mutual fund.   Should produce 8-10% per year, mostly tax deferred if you don't sell.   Very little risk of getting wiped out because of the short component.]]></description>
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<pubDate>Thu, 09 Aug 2007 02:43:55 GMT</pubDate>
<author><![CDATA[johnheiderscheit]]></author>
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