Can’t say I’m very surprised to see this. When the wheels started to come off the equity market wagons last fall, Canadian hedge funds took a beating. Some have withstood the storm - Sprott, for example. Others folded, or their managers just packed up and left, e.g. Brendan Kyne’s Leeward Hedge Funds [Note: this guy really got under my skin with the parting shot “I didn’t want to deal with whiny clients”. Yeah, whiny-ass, house-losing, no-security-having client, who entrusted me with your money. Shut your mouth and be thankful as I ride it into the ground].
Still, I like Eric Sprott, and even though some of Sprott Asset Management’s offerings have had inexplicably poor performance (e.g. Sprott Global Equity), I still dig his investment philosophy (Big-picture value investing in companies with low price/earnings ratio and good cash flow). Dispassionate as I am about most fund products (More precisely, the companies who manage them), I’d like to see how Sprott Asset Management makes its way out of the post-apocalyptic rubble of the equity sector.
Hey, there’s an idea. Eric Sprott in the Thunderdome. Shoulder-spiked and gladiator-helmeted, dragging Kyne’s mangled corpse behind him, for the viewing pleasure of Tina Turner.
BRB, writin script now.
