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Jackass investing appears to work

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I interviewed Brandywine’s Mike Dever recently on Tradestreaming Radio on the launch of his book, Jackass Investing (Amazon).

Dever’s done an admirable job making his strategies available to the public (and his returns, too).  The August report on the Symphony Portfolio (described in Jackass) showed a return of over 2% vs. the $SPY ‘s loss of over 5%.

Pretty non-jackass to me.

From the report:

We received a $10 million seed investment and began trading on July 1st. It was a great time to start as it gave us the opportunity to display our non-correlation with not just stocks, but with other managed futures traders as well. Following a 0.9% gain in July, Brandywine’s Symphony program posted an additional 2.4% profit in August, while both stock and managed futures traders, on average, lost money. Brandywine’s volatility remained subdued, averaging less than 20% of that of the U.S. stock market over the same period.

Read the whole report

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