Other People's 13F's Are Useless
Young Money, "Eliminate white noise from the financial media":
The information in 13F filings is very limited: the disclosures are made with a lag, they presents a partial picture (e.g. they don't state if an investment is part of a pair trade), and they don't give the filer's rationale for making an investment.The only noteworthy 13Fs from 9/30/14 that I heard about were some fascinating impending train wrecks to gawk at, like the guy who put his entire fund in one iron ore miner.
I guess the other thing I'd point out is that 13Fs are how we are able to have holders lists for companies, which are useful. It's reassuring when you're short a company with bonds yielding 40%, and you can check and see that nobody really smart owns it.
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I guess the other thing I'd point out is that 13Fs are how we are able to have holders lists for companies, which are useful.
That's a good point and TBH something I hadn't considered.
The problem is that much of what is reported is actually old news. They don't get reported until way after the quarter and by then, ownership can have changed quite a lot.
I would also add that funds that sold out don't report any more so you really don't know when they exited the position or at what price. They're just gone.
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