Recent Guru Outlooks & Insights

I covered a lot of ground reading various profiles and presentations from different gurus so I thought I’d compile some of what I read and pass it along. ┬áIf readers find this sort of thing helpful we can make it a regular thing….


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Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC. Orcam is a financial services firm offering research, private advisory, institutional consulting and educational services.

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  1. Re. Deepak Narula (best hedge fund you’ve never heard of)
    It’s why the mainstream media (inc. Bloomberg) shouldn’t be allowed to write about hedge funds…they’re unable to show any judgment!
    This is a guy who blew up in 2007, closed down and relaunched his fund 6-9mos later (thus had no high watermark, and ‘restarted’ his track record) because he was in illiquid mortgage-related bonds. Why is it a surprise that he’s making $, when illiquid mortgage-related bonds have been one of the best asset classes around since his relaunch.

  2. Well I have only read the first one and I can already tell you this is great stuff. my only comment on the BW Narula article is that they do not mention how much leverage hi es using. I think he cannot be at zero leverage and get a 34% YTD return on the stuff he is investing in,

  3. I have looked at Dalio’s BW 13f holdings before. IMHO, this is a rather useless excersice. The holdings provide a very narrow view of his investments as represnr a very small fraction of the funds he manages.. Most of the instruments he deals with do not require a 13F. I think in part he does this on purpose.

  4. This is a good idea. However there are some great sites out there already aggregating good reads.
    How about selecting out a single read of the day. Call it Prag Cap daily read or some such thing and
    be selective in helping your audience to build toward greater MR understanding as well as getting out you general investment philosophy. Just an idea.