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Mastering Money

Mastering Money is hosted by Certified Income Specialistâ„¢ Steve Jurich. Steve's comments have been seen on MarketWatch, CNBC.com, Bloomberg, and TheStreet.com. Steve is joined on most days by Money Radio favorite Sinclair Noe as well as experts and authors from the world of Wall Street and real estate. New episodes published every weekday at 9am PST. Listen every weekday to get a handle on emerging market trends, asset allocation strategies, social security, medicare, RMD planning, tax strategies, estate planning, annuities, life insurance and more!
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Now displaying: Page 1

Dec 16, 2015

…Call it “the year of mimicking dangerously.”, says Jason Zweig, Wall Street Journal columnist and author of the Intelligent investor.

A handful of mutual funds and exchange-traded funds seek to emulate such leading investors as hedge-fund manager William Ackman of Pershing Square Capital Management. Zweig points out that most of these funds are down 5% or more for 2015, and some have lost at least 10% over the past three months as the embattled drug company Valeant Pharmaceuticals International, and other holdings of top investors have tumbled.

AlphaClone Alternative Alpha, for example, is a $143 million ETF that selects at least 20 hedge funds it believes to be especially skillful and builds a portfolio of about 75 stocks from among their top holdings.

Unfortunately, Valeant had grown to be the fund’s largest holding, at 7% of assets. At the end of September the fund’s hedging formula kicked in — right before the S&P 500 shot straight up the following month. October was the worst of both worlds for the fund as it captured Valeant’s 47.4% decline but missed out on the stock market’s 8.4% gain.

Steve and Sinclair review "clone" hedge funds in Segment 2. In the Q & A Segment, CFP Murray Titterington with IQ Wealth shares views on income planning from well known financial writer and professor, Michael Finke.