IT’S BEEN 3 LONG YEARSSSSSSSSSS. But hey, we’ll say that it had worth waiting later on when we’ll be cashing the big bucks on the back of Jean-François Tardif!!!
LOL
Some people wrote in the previous post comment that my idea of investing in the JFT Strategies Fund is silly... as usual, I am being stupid blablaba... Well, guess what, my little bunch of HATERS. During his years spent at Sprott Asset Management, in 2008-2009, in the middle of the biggest financial mess, Jean-François Tardif brought the Sprott Opportunities Hedge Fund L.P. to the hedge.
Ok, this is confusing...
On the First Asset Investment Management Inc. Web site, the JFT Strategies Fund is being introduced as a hedge fund, but it’s not the case. I just finish my call with TD Waterhouse. The JFT Strategies Fund is a Trust Unit, and not a hedge fund. The TD rep could see the JFT Strategies Fund in his system, but he couldn’t tell me more about the minimum amount required to participate at this initial public offering.
I had tried to push the investigation and called First Asset Investment Management Inc., but the beautiful male voice hangs up on me...
So nothing much more now regarding the JFT Strategies Fund. Maybe sometime next week.
While waiting, check on those beautiful flowers.... SPRING is here :)
Sunny, JFT Strategies is up on TDW now. I just got the email minimum 200 - maximum 100,000 class A shares.
ReplyDeleteminimum is $2,000 (200 Class A Units)
ReplyDeletenice flowers ... have a happy spring!
GREAT!
ReplyDeleteThanks :)
This is nice, only 2k... I AM IN!
me too! I asked for 400 shares
ReplyDeleteit's a recipe for disaster... good luck... i'm out, stick with quality stocks, no speculation play, this guy is just speculating...
ReplyDeleteYou have to seek for JFT own history trading before saying that this is a recipe for disaster.
ReplyDeleteHe's good at generating good return in difficult financial times. I had been following him for a few years now. If I am exciting about his new investment product, it's because it worth it!
You'll see by yourself later on, the excitement will worth it :)
past performance is no guarantee of future performance...
ReplyDeleteNo, but it is most likely, knowing the man, that he's going to rock the stock market just like in the past.
ReplyDeleteEveryone with a minimum of common sense can understand that.
Hi Sunny-I'm curious, what exactly is this JTF fun that Sprott is creating? What does it invest in? Does it have an MER and or other performance guarantees paid to the manager of the fun? What does the fund hold? Are you comfortable with the fund's risk tolerance?
ReplyDeleteMark
Sprott is not involved in this at all. Don't you know about JFT? Sprott was his late employer.
ReplyDeleteAs for the JFT new fund, I don't know anything about it. What I know is that the minimum required to invest in his new fund is 2k, that JFT is the manager and its about it.
You can spend time reading the prospectus if you want. However, just reading the name Jean-François Tardif should be enough of reading.
:)
"Just reading Jean Francois Tardif should be enough reading". That says it all; you'll invest blindly without understanding the risk or fees involved. Just throw another dart on the board and hope it lands in the bullseye. You know when I read enough and decide it's probably not a good idea to invest? When you get excited like you did with Gold, Silver, JE, SII, etc...
ReplyDeleteThe accountant
What so great about him? He just makes money from MER like any other fund manager.
ReplyDeletefill me in sunny, 2 grand is a lot of money for a fund that no one seems to want to give info on and hangs up on you...is it going on the stock market? am learning here but i like to know lots about what i am investing in.
ReplyDeletedo you have the link to the prospectus? can't find it... most likely will be very illiquid and thinly traded investment.
ReplyDeletethere's so many similar investment from hot shots past fund managers that venture to create their own funds. Take Don coxe, as an example
http://www.coxeadvisors.com/Don_Coxe_-_Coxe_Advisors/Home.html
don't think it's doing that well if you look at the fund and there is no volume at all on those funds.
I AM OUT.
stupid investment, don't invest a cent, stick with actual companies. again you are deviating from the dividend plan here. your money, do whatever you want. look at your whole portfolio, it really sucks...
ReplyDeleteI was calling from Skype, it could be the reason of the hang up. I didn't try to call a second time.
ReplyDeleteProspectus can be find under the offering, in your broker account.
I invest in whatever pick my interest, no question to be ask.
JE is a good invest. My investment in gold with Claymore was done terrific. Sprott inc. (SII) is a bit more volatile, but it's part of the game. And silver, its REALLY volatile.
Coxe has nothing to do with Tardif - don't mix thing that have no relation in between, please.
My portfolio is terrific. :)
PGF? I had been holding for years.
If you cannot handle the market volatility, just don't invest in stock, please.
Sunny, i am up nicely with my funds , i can handle the volatility, just find the pengrowth fund a pain in the neck but am hanging on as they are paying me while i am waiting waiting...JE..nearly have my whole investment back plus dividends...i only have the two losers ..Rim, Manulife and oops pengrowth but all the rest have paid me well.
ReplyDeleteThe JFT Strategies Fund will be a publicly traded closed end fund (CEF) and when one looks at the strategies involved in the fund along with the fee structure of 1.5% management and a 20% performance fee one is simply looking at a publicly traded hedge fund. The prospectus is available at Sedar.com One should do some research and have an understanding of Closed End Funds before investing. More often than not they end up trading at a discount ot NAV after they start trading. After a CEF starts trading you don't need to worry about a minimum purchase, you could for example buy as little as one share. Given that First Asset/JFT seem to be in the capital raising stage you certainly wouldn't want to pay more than $10 per share.
ReplyDeleteAs always read the prospectus and do your due diligence before investing.
The Fund’s investment objective is to maximize return on investment to holders of Units while seeking to mitigate market risk and volatility by investing in an actively managed portfolio of long and short positions in any one or a combination of equities, debt securities or other financial instruments.
ReplyDeleteThe Portfolio will be managed by Timelo Investment Management Inc. The Portfolio Manager employs an opportunistic approach to investment, which means that it concentrates on the best investment opportunities that it can identify from time to time without being restricted as to the asset classes, the securities or the financial instruments that the Portfolio may invest in, the investment techniques that the Portfolio Manager may use or the geographic or industry sectors or markets that the Portfolio may focus on. The Portfolio Manager selects investments based primarily on fundamental factors, but also considers other important factors, such as macro economic factors, technical analysis and perceived market trends.
The Portfolio will consist of long/short positions in any one or a combination of equities, debt securities or other financial instruments that seek to generate positive returns by selecting what the Portfolio Manager believes to be superior quality investments for long positions and inferior quality investments for short positions. The Portfolio’s net exposure (long versus short) will vary depending upon the Portfolio Manager’s view of macro economic and other factors.
There is no assurance that the Fund will meet its investment objective.
Commencing in 2013, Units may be surrendered annually for redemption during the period from the first Business Day in December until 5:00 p.m. (Toronto time) on the 10th Business Day in December of each year subject to the Fund’s right to suspend redemptions in certain circumstances. Units properly surrendered for redemption during the Notice Period will be redeemed on the second last Business Day in January of each year and the Holder will receive payment on or before the 15th day following the Annual Redemption Date. Redeeming Holders will receive a redemption price per Unit equal to 100% of the NAV per Class A Unit or NAV per Class F Unit, as applicable, as determined on the Annual Redemption Date, less any costs and expenses incurred by the Fund in order to fund such redemption.
The Fund does not have a fixed termination date.
The issuer's website can be found at www.firstasset.com
Please refer to the prospectus for full details of this offering.
from what I am reading, JFT has full discretionary power on how to invest the money. he can invest in anything and everything that his heart desires...
ReplyDeleteThe Portfolio will be managed by Timelo Investment Management Inc. (the “Portfolio
Manager”). The Portfolio Manager employs an opportunistic approach to investment, which
means that it concentrates on the best investment opportunities that it can identify from time
to time without being restricted as to the asset classes, the securities or the financial
instruments that the Portfolio may invest in, the investment techniques that the Portfolio
Manager may use or the geographic or industry sectors or markets that the Portfolio may
focus on. The Portfolio Manager selects investments based primarily on fundamental factors,
but also considers other important factors, such as macro economic factors, technical analysis
and perceived market trends.
The Portfolio will consist of long/short positions in any one or a combination of equities, debt
securities or other financial instruments that seek to generate positive returns by selecting
what the Portfolio Manager believes to be superior quality investments for long positions and
inferior quality investments for short positions. The Portfolio’s net exposure (long versus
short) will vary depending upon the Portfolio Manager’s view of macro economic and other
factors.
The Portfolio Manager may also make selective use of derivatives and other financial
instruments in order to increase returns and/or to mitigate the downside risk of one or more of
Portfolio’s investments. See “Investment Strategies”
WOW!
ReplyDeleteI never heard of such thing before!
Seem like our JFT is getting into the real sophisticate stuff that I can barely understand. ;)
It's going to be FUN!
not really. it's jargon that JFT can do anything with your money. one of warren buffet investment philosophy is to invest that something he understands. you should follow his advice. No real transparency, don't know what this guy invest, but from his experience from Sprott, most likely OIL, GOLD, MINING companies, physical resources will be his primarily investment. I AM OUT on this.
ReplyDeleteIts something to think about.
ReplyDeleteKnowing that Tardif has a full power management over his fund is a total turn on! It make it even more interesting and appealing. Now, he's his own boss. Imagine a pure trading power in real action. Can you imagine that?
You don't know what you are missing.
well it is way out of my league in understanding , all i know is i do NOT want to pay fees..mers are high in Canada...just got out of two mutual funds with over 2% mer...funny how the financial advisors never mention the fee, the back end load , when and how to get your money out without paying a huge penalty...on and on it goes...i want something i can see up front..stocks do.
ReplyDeletethis looks obscure, how do we evaluate such investment? does the unit price moves up and down based on the underlying holdings? does this work like an ETF? Let's say I buy at 10, what causes the second by second fluctuations? I think this is hard to get in and get out due to liquidity, very few people will trade this daily...
ReplyDeleteJust like any other IPO, you cannot evaluate just like that right away. If you want to get an evaluation of the fund before investing, you should wait a couple of months to see how the fund react to the market.
ReplyDeleteI don't plan to trade JFT fund daily, but to buy and hold. And from what I read, there's some distribution plan ahead.
it worth a 2k investment for me. I had been waiting like forever for that Tardif to come back in the game. Now that he is and the minimum investment is affordable, I won't let it go. I want to be in right away. If you buy now, express an interest for the IPO and I think it's commission free, if I am not mistaking.
Knowing who's behind the fund, knowing that he has a full power over the money, it should be enough to convince anyone to invest in...
Invest now, or you'll regret it for the rest of your life.
:)
@ anons above: thanks for all the research on this! It really made my day. Lets see if I wrap my poor mind around this: 1.5 per cent MER, plus performance topup, plus trailing advisor/agent fees, new fund, no history at all. holds securities both long & short in any/ all sectors/asset classes, hedged (we all know how poorly these guys do, they can't even make market) & yipes! derivatives (someone...a flow chart please, or maybe an SEC enquiry!) doesn't even try to outperform any index or market, so no benchmark (step right up, everyone's a winner, every time), employs a ouija board: "opportunitisic investment strategy" this makes JFT is the self proclaimed Wayne Gretsky of investors: "I skate to where the puck is going to be." & "macro economics,tech analysis & market trends" What no fundamental analysis?--no time for that we gotta keep moving you know- in out and repeat! It appears thats there's only one day you can redeem units during the year. WOW, move aside Gordon Gekko. Cheers! Anon-na-na-na-na-hey,hey,hey,-goodbye
ReplyDeleteI have some really good investors-readers here at the Dividend Girl blog. :)
ReplyDeleteI had placed an interest for a 2k investment on this and I am really happy.
Tardif was exclusively born to make be RICHER than what I am right now. Did you know that?
$$$
I was wondering owns or has a comment about YP.UN Yieldplus Income fund
ReplyDeleteI've been looking at it and thinking of buying some.
why don't you sell everything and invest with JFT if you are that confident in his ability? Like you and everyone else knows there's a high chance that JFT can do a poor job. Past performance is no guarantee of future performance...
ReplyDeleteAnyway, it's only 2K, which represent onlye 1.25% of your entire portfolio, even it doubles in value, your holding on this investment is 2.5% only, which is very insignificant in the grand scheme of things...
Anyone buying this is a complete moron, who should rightly lose their money......because they are too stupid to know what to do with it.
ReplyDeleteJFT cares less. It's not his money at stake, it's yours and all the other investors... JFT has enough to live a very comfortable lifestyle, he's just doing this for fun and he has nothing to lose really... if his fund goes down 50%, he doesn't really care, he's collecting the fees and by that time he probably left the company...
ReplyDeleteMy trick is to invest a little bit in a bunch of stuff that interest me.
ReplyDeleteThe idea of selling and investing it all in the same spot is very stupid. You are giving me very bad advice.
I think its a good thing that he's back. He was a good manager at Sprott, he'll be even better by himself, having total control over the money. It's going to be AWESOME.
He could had stay retired, but its nice to have him back!
Good looking, well spoken, rich and a good portfolio manager. What a sexy mix. Don't you agree?
:)
Good looking, well spoken, rich and a good portfolio manager. What a sexy mix.
ReplyDeleteNo wonder Sunny got scammed out of 2K
Sunny,
ReplyDeleteI think you should downsize your portfolio. You are probably paying a lot of commissions in all the little invested stocks that you buy. You'll probably make more capital gains if you invest in a few companies that you think will appreciate in price. Your spread is too much going at all different direction.
Is there any stocks that you currently own that is over at 100% gain? You need to find good quality stocks that will appreciate in time.
Investing $2000 in a fund that takes 1.5% MER isn't worth your time and effort. Does it even pay monthly dividend? Isn't that your motto? Think about that.
let's see how JFT will perform. please keep track of monthly changes and percent gains... I bet after 5 years, TD Bank Stock will outperform this, with TD Bank Stock, I am already ahead by 3% due to the dividend and five years, probably just on the dividend alone, i will have 18% return excluding capital appreciation... see you in five years from now...
ReplyDeleteInteresting and fun things about JFT in the news: In April 2011 interview, “Other strategies that advisors can use to protect their clients’ portfolios include diversifying their holdings among different sectors and asset classes, and AVOIDING LEVERAGE, Tardif suggested.”. JFT is the Executive Director of RESULTS Canada, a poverty activist group that supports “microfinancing”/ lending to small businesses in third world countries. It’s expressed this way “1.4 billion people around the world survive on less than $1.25 a day. How can the poorest of the poor climb out of poverty? The answer lies in one of our focus campaigns for 2010 — Microfinance”. Sounds good, lovely word that “microfinancing”, until: “Because most programs use a SYSTEM OF PEER SUPPORT AND PRESSURE in which BORROWERS ARE HELD RESPONSIBLE FOR EACH OTHERS LOANS, microfinance loan repayment rates are extremely high — 95% worldwide which is even higher than at most traditional banks.” JFT will be speaking at the St. Andrews Club, Toronto, on April 12th, but it will cost you $495.00 (sorry, missed the early registration) and $200,000.00 income or 5 mil in assets. I guess I’m staying home. :(
ReplyDeleteWhy not wait for all those that feel the same way to buy in first? History suggests the IPO price for something like this is on the high side so NAV will dip below initial offer after initial hoopla, which if you still feel compelled to buy in, you can at a discount...?
ReplyDeleteI don't have a moto.
ReplyDelete100% return on an investment? I made that with MX and PPL.
Commission fees were paid once, at the time of the purchase. For the vast majority of what is included in my portfolio, I hold and buy.
I buy whatever I want, no moto, no direction. Just what I want.
Tardif is looking to make money on my back with an MER at 1.5%. GOOD. HE CAN GO AHEAD. He could charged me 2.5% that it wouldn't bother me.
I am very curious about this to find out how it will go.
I like to have a mix of stocks, of mutual funds and other stuff all in one. Its part of having no direction and I like that very much.
Don't ever think that I or u is better than everyone else out there. I am not closing the door to portfolio manager. And I am certainly not closing the door to Jean-François Tardif.
The door IS FULLY open.
LOL
So he has a foundation? GREAT. What a price just to hear his lovely voice LIVE. WOW WOW WOW. I will stay home too at that price. Especially now, I am unemployed.
Its not to invest in it for the IPO because you are taking part to history man.
The last sentence was supposed to be:
ReplyDeleteIts hot to invest in it for the IPO because you are taking part to history man.
:)))
sounds like he is a French man Sunny. i wonder often why wouldn't you buy more Pembina or other great stocks that have proven over time to raise dividends and also have growth at the same time.
ReplyDeleteit's an ipo for a structure product. it's different than an ipo for an actual company. this is basically a fund of fund, and the performance of the unit of investment all depends of what he invests and there is no outcome how a company does in terms of earnings. this is gambling your money away. you are giving free money to jft for 2.5%... the longer you keep invested and he underperforms you lose a lot of money. stick to simple investment keep it simple silly (KISS) slow and steady wins the race always. no this kind of speculative play. this blog is no longer a dividend girl blog, it's more gambling girl with all the leverage and gold, silver plays and the list goes on and on...
ReplyDeletebuy derek foster type stocks and don't ever have to worry. he never really deviated from the plan, but he did cash out at the worse possible moment. but he kept his mantra of investment solid companies like colgate, procter and gamble, walmart, etc... recession proof companies... just wait for the big crash and invest your money! some interesting canadian plays include a bank, an insuracen company, an utility company, a telecom company, one railway, etc... you are very well diversified after this...
ReplyDeleteHi Ruth,
ReplyDeleteYes, Jean-François Tardif is French. He's actually a Quebecker.
My idea is not to invest too much in the same basket. I had double my money in PPL. I had invested in PPL a long time ago. I had been lucky. But never forget that everything related to the stock market is at risk, even great stuff like PPL.
While diversifying into different sectors and different companies, you protect your assets. if your willing to take the risk to invest in stocks, the least you can do to protect the cash is to diversify, diversify and diversify.
Of course, it come to a point were its getting harder and harder to invest while having in mind the diversification rule. And that being for different reasons:
-Because of a moderate knowledge of the stock market
-Because of being mostly Canadian oriented (but that being because of my margin).
-Because of having it all in. Already :))))
I had a real trouble to pick my last couple investments. Luckily, I always find something.
That JFT fund comes at a perfect timing. It came at a time were I had been laid off and it came at a time where I NEED to have something extra strong in my portfolio to bring my margin account stronger.
NOW, JFT is MY EVERYTHING. Not more, not less.
On va voir ce que le Jean-François Tardif a dans le ventre!!
(We are going to see what Jean-François Tardif has in the stomach!!!)
LOl
We cannot compare JFT with Derek Foster. Its two different ways of seeing the market. I don't think Tardif would agree on a buy-and-hold strategy. For him, its more about strategy, management.
However, the Derek Foster had worked pretty well for me. PPL, PGF, ENB, CDL.A, ECI, ENF.... Those are all DF stocks and they are the heart of my portfolio, they are the reasons why my margin bring in more than 50k in free cash.
Mixing up with strategies, different funds, different ides is fun and its the way to go, especially now. The stock market could crashed again at anytime, need to be ready.
During the past couple months, I really focus on blue chips. I had welcomed in my portfolio stuff like AGU, CU, TRP, ENB. Why? To bring strong stuff to secure the value of my margin.
It was my fun to be in the JFT IPO, and I am in! I am part of history now :))))
My portfolio is pretty much completed.
I don't want any insurance company in my perfect portfolio.
Now, I am just hoping that the 2k in JFT will bring be to the 200k value. Those are quite exciting time! HOT HOT HOT!
will bring me to the 200k value...
ReplyDeleteIt must be crazy to read this blog!!! ahaha
Bad English = a girl with a lot of $$$
Now you know.
if you are warren buffet, he will see value in insurance companies, yes they are still struggling, but eventually will rise because everyone needs insurance. as a value investor and dividend investor i would be seriously be looking at those companies, it can probably double in the next 5 years + dividends. anyway, no one has a crystal ball and you wouldn't be blabbing all the miscues you did in terms on your investments. you learn from your mistakes (hopefully) and move on. Just watch out on the leverage on your portfolio. 2 to 1 ratio between assets and debt...
ReplyDelete@ anon. above: I don't think JTF Strategies will be a Fund of a Fund if you're thinking in the traditonal ETF sense of holding other "baskets". If it was, then the MER's might even compound. But JTF really hasn't said what it will be. I suspect he will use this as a hedge fund, despite what DG has been told. He's given himself so much leeway & so much control in this venture he could even invest in artwork or race horses. Just remember its your $ he's gambling/controlling, not his. I do agree that this Fund IPO can't be evaluated like a company IPO. With a company IPO there is some track record to look at as a private enterprise. By the way, DG, before you get too excited, JFT is happily married with kids & plays golf. Maybe he'll actually respond to this blog. But then again why should he bother? Cheers!! Anon-y-damocles
ReplyDeleteheard the last part of this discussion on JTF on business news and they were talking of all the money you will be charged by this IPO and one should wait for it to be on the market..i know very little on this one so just repeating what was said..the charges were pretty darn high.
ReplyDeleteJFT can do whatever he wants and that's all. you give your money to him and bet that his previous track record translates to substantial gains. He doesn't really care that much either way he makes or loses money, because he will still make money either way... If he loses money, he just makes less... No one can predict market direction, even the best of so called experts out there...
ReplyDelete@Ruth
ReplyDeleteThanks, I found it and listened to the clip. It seems the fees are 9.2%
selling fee, trailing fee, incentive fee and management fee.
I'm on the phone now with TDW trying to get out of it. They are telling me I can never participate in another IPO but that's fine and is probably a good thing.
I'm out!
oh lala, 9.2%?
ReplyDeleteOnly Tardif super fan are going to invest in it....
I stay in anyway.
Cannot participate to any IPO just because you cancel?
Tell them that if they but such restriction, you are going to switch of broker!
(I know all the tricks your know!)
I kind of feel responsible, I am sorry for your trouble, but I am still happy about the taught of investing in a fund manage by Tardif.
Pattirose thank you for telling me that as it makes me feel good. i don't like fees like that as i was hit with those in Mutual funds. how about those apple stocks...made over 200 bucks so far and got into Pembina at $27, it is going up with that acquisition it made and being on the NYSE. i have other pembina stocks and the dividend is so good.
ReplyDelete@Sunny: Don't feel responsible or worry about my call with TDW. They can stick their IPOs where the sun don't shine, I don't appreciate them threatening me with not being able to buy anymore IPOs, like they're going to let me buy the IPO for Facebook haha! I almost asked him that but I was in a rush to get to work.
ReplyDeleteSunny, you gave me the idea to trade HZU and I quickly made enough for a new leather sofa AND you gave me the idea to ride the Facebook craze and I almost made enough to pay for a new fur coat trading GSVC (only need $500. more) which will hopefully be one more quick trade. You are awesome!
I still may buy the JFT fund but I will wait until after the IPO, which is what the analyst (Peter Hodson) suggested. He said any other closed-end fund would get a F rating but because it was JFT he gave the fund a C rating. :)
@Ruth: I bought Apple for a quick trade and a few $$ but while doing my DD I decided it was a keeper. I'm thrilled to have it in my portfolio.
Pattirose..you and I are going to ride the apple to the first trillion dollar stock in history...i think it will make it..at least if it doesn't,,made a bit of quick easy cash and have to admit..it is the most fun stock i have ever owned. if i had only bought it instead of rim...might be driving a mercedes.
ReplyDeleteLove JFT, I'm a past investor of his, but 5.25% agency fees seem quite high on top of 1.5% annual management fee and 20% performance fee. That seems steep even for a proven hedge fund.
ReplyDeleteWOW, you mean you had a 100k+ invested at Sprott?
ReplyDeleteWOW WOW WOW
There's some REAL RICH reading over the Dividend Girl. Interesting :)
You need to be dumb or be a super fan of Tardif to invest in his current Fund. Very high fees and commissions. It barely make any sense at all. I am very surprise and its a bit of a deception to see Tardif showing off like that. I mean come on man. We all know you are in for the money, but relax a little.
I must be dumb AND a super fan of Tardif.
Check out on here for Tardif 2012 prevision. He hold some gold, by the way:
ReplyDeletehttp://video.ca.msn.com/watch/video/predictions-for-2012-from-jf-tardif-1-04-12-12-40-pm/jvt0wjxq?src=v5%3ashare%3apermalink%3a
You are in good company Sunny, he doesn't like livecos either. I wish they would have asked him if he had any silver.
ReplyDeleteFrom what I remember from a previous interview, Tardif hold some silver in my portfolio, but mostly gold than silver.
ReplyDeleteI meant to type life insurance companies, lifecos not livecos, sorry.
ReplyDeleteAh ok :)
ReplyDeleteSunny is completely right.
ReplyDeleteTardif was a complete superstar, outperforming the other managers at Sprott if you can believe that, mostly shunning resources too. I used to own his fund. He is one of those rare minds you come across in the investing world who have the ability to see things very clearly from a business perspective and make good moves year after year. The share price on this fund will initially cruise downwards towards the discount to NAV, but then watch out. Good news too that Tardif thinks it is a good time to be launching a fund - he must be seeing some value in the market.
Its like soooo terribly exciting when people come here and say something like... and oh by the way, I used to own Tardif old Sprott hedge fund....
ReplyDelete:)
Read the prospectus and look at the fees. it will take 3-5 years just to recoop your initial investment based on JF's investment style with this fund.
ReplyDelete