valuecfa Posted November 15, 2010 Share Posted November 15, 2010 I don't know their AUM, but they seem to be betting the farm. Take a look at the size of the put option they have on the SPY. Yikes! That is half their non-cash equity portfolio. http://sec.gov/Archives/edgar/data/1327388/000139834410001467/fp0002250_13fhr.txt Link to comment Share on other sites More sharing options...
Parsad Posted November 15, 2010 Share Posted November 15, 2010 That can't be right! Must be a typo. Cheers! Link to comment Share on other sites More sharing options...
valuecfa Posted November 15, 2010 Author Share Posted November 15, 2010 That can't be right! Must be a typo. Cheers! It doesn't sound like their style, but that's what is in the filing. Will keep an eye out for an Amendment Link to comment Share on other sites More sharing options...
Rabbitisrich Posted November 15, 2010 Share Posted November 15, 2010 The reported value is notional. Hopefully Tilson will go into the pricing and term on the next call. Link to comment Share on other sites More sharing options...
Parsad Posted November 15, 2010 Share Posted November 15, 2010 Yup, that is notional value of out of the money puts. The actual dollar amount is nowhere near that amount. Cheers! Link to comment Share on other sites More sharing options...
valuecfa Posted November 16, 2010 Author Share Posted November 16, 2010 The reported value is notional. Hopefully Tilson will go into the pricing and term on the next call. Ah, yes. The market value (as well as the share count) is based on the underlying in the put contract, and not based on the premium value for the contract. Thanks for catching that. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now