A look inside the portfolio of the hedge fund manager who seems to do no wrong:
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Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
vfsv
Am I reading this correctly that he is “short”(??) (SH /PRN) all these positions?
What was the date of this filing?
vfsv
Sorry, please excuse my ignorance.
—I did a little research (duh!?!) & believe “sh” is “shares”. (So what is “prn”?) —Therefore he is (or was) long these positions?
—If so, that looks like a BIG gold position, esp GLD.
FWIW, I am suprised both by the financials: (COF, JPM,…) & that he is holding healthcare in the face of possible government intervention which is likely to depress insurers (competing with “free”) & providers (getting lower reimbursement rates).
Cullen Roche
You got it right. Short positions aren’t reported on 13-Fs. This is the most recent report. And yes, he has been building some large positions in gold related names.
Of course, it’s important to note that this is probably a very small portion of his portfolio. Paulson uses a lot of derivatives.