Vanilla investors fixate on price. We contrarians know better.
It’s all about the NAV. Net asset value, baby.
Price is what people pay at a given moment. But people panic. Many like to buy high—and sell low!
NAV, on the other hand, is what something is worth at that same moment. Price and NAV can become disconnected, especially during emotional market moments. When this happens, it is often a buying opportunity for careful contrarians like us.
Let’s take a pop quiz. Think about the funds you hold in your portfolio. What was your top performing NAV for the month of April?… Read more
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