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NYU 'All-Stars' Ride the Market Coaster With AmEx and American Eagle
03/13/08 - 02:55 PM EDT
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The "Short" Road to Recovery Determined to make up for the portfolio's losses, Sangani is focusing on making smart pair trades and shorting
unattractive stocks instead of looking for ones with a big upside (see "Five Hedging Techniques You Must Know").
Sangani breaks it down: "More pair trades. That's going to be our biggest strategy right now. When you see cheap stocks become cheaper, the potential for expensive stocks to absolutely implode becomes big. You're seeing it across the market with companies like Google GOOG and Apple AAPL. Previously, these companies were loved by the market. I have trouble seeing a lot of upside right now, but I'm seeing a lot of downside potential on shorts (see TheStreet.com's Short-Selling section)."
So far, this strategy seems to be working. In the past couple of days, Sangani has managed to eek out another 5% from a market that's been anything but predictable. Despite the ups and downs, IAG's All-Star portfolio is still outperforming the S&P by around 15%.
All-Star's current best-performing holding? Mexico-based cement company Cemex CX.
Here's how the school's $2.7 million Asset Management Practicum teaches students to allocate assets.
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Here's a look at how the school's investment group trades.
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Catch up on his thinking on the hottest topics of the past week.
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