Tony Dye - Dr Doom - right calls, wrong timing

[Jack o'Clubs]

Just spotted in yesterday's FT a story about how the infamous contrarian investor Tony Dye (the guy who called the dot-com bust way too early, and got sacked from UBS for underperformance two-weeks before the market collapsed. His 'legacy' fund then went on to be UBS's best performing the next year...) has turned the $400m he raised in 2000 for his own hedge-fund into $70m apparently by refusing to 'believe' in the 2003+ bull market. Sadly, history might be about to repeat itself since he closed his fund down just before the recent market falls. On a serious note, he's closed due to ill-health, hope it's nothing too serious, but there are no doubt interesting observations that can be drawn about the perils of contrarian investing, particularly with respect to timing...

 

[Mr. Charts]

Contrarian investing = standing in front of an oncoming train
mumbling, "it will stop......"
It does eventually.....usually further down the line....
Richard

 

[chump]

Dye was a late newage Dr Doom...the original was Henry kaufman...he was adamant in the face of almost unanimous opposition that rates would go higher with all that that implies...the 1970's ...I wonder if he's still alive ?