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I’ve had Long Short Portfolio in my watchlist for a little while and I used to sub to fiveHedged.
fiveHedged went private a few weeks ago on the heels of a period of lackluster performance. The developer stated this was by accident, but then didn’t make the strategy public again either. There was a very active forum thread on this strategy, where the developer used to actively post, but it went dead right around the time the strategy went private. The developer also had a website, www.insight.net, which is now no longer online.
I noticed today that Long Short Portfolio has a similar strategy to what fiveHedged had: pick a few value stocks while hedging the positions by shorting the general market. fiveHedged used to pick 5 stocks, while LSP picks 2 to 4. fiveHedged and LSP both use a multi-factor fundamental value formula to pick stocks. Both hedge by shorting the Russell2k. LSP has a website, https://tradepilot.com/, that looks like a twin of the old insight.net website - same font, same layout, same graphs, even same use of the “SmartRank” term.
It looks like the same dev is back under a different name. fiveHedged wasn’t living up to its (backtested) claims, so I’m guessing he dumped the strategy and then put a tweaked version of it on C2 under a different name (Long Short Portfolio) to start with a fresh reputation.
Just wanted to point this out to any who didn’t already notice it. I’m not a fan of this type of behavior - it would sit better with me if the same dev just put out a v2 of his strategy under the same name and asked for a second chance.
I imagine that it would be very difficult to enforce it. Plus I really appreciate being able to be anonymous when it comes to showing how my brokerage account is doing.
@InteractiveAssets, thats one of the reasons its very hard to trust trade leaders here in C2 since there is no responsibility in losing other peoples money. But I understand the other side of the coin since alot of trade leaders are just starting out and would almost certainly have bad trading systems.
Well, one would think trade leaders are publishing systems that have successful live trading history behind them, or failing that, several years of backtesting + 6-12 months’ live trading history on C2.
Who is going to invest money with a system built by a newbie that has no track record?
I don’t know about you, but I’m here to try and make money. This is for real now, with real $$. Subs aren’t guinea pugs.
Couldn’t agree more. I think the C2star program should be good for subs once it matures more and allows different rules.
This is another reason a long track record is needed and a drill down of the what kind of trading is involved is necessary currently as there are no other way of determining if a system is good or not.
This is a big problem for C2, the more I think about it. In theory it shouldn’t matter because investors on C2 are “homo economicus” rational agents, like in economics textbooks, and they would wait at least a year after a new system launches to see how it performs. In reality most investors have small accounts and a gambler/get-rich-quick mentality. Unscrupulous trade leaders will rinse and repeat as much as they can, churning and burning through subs. The big loser in this activity is C2’s reputation.
I’m not sure if the description of the LSP has been changed in the past day or two to make clear the point, but the trade leader does not hide but rather makes it quite clear that LSP is the descendent of FiveHedged and that this is the same trade leader, albeit with a different name and a new preference for answering questions by C2 private message rather than this forum.
Personally, I agree with your distaste for the name-changing gig. I’ve kept all my old less-than-stellar strategies findable by keeping the same name these past three years. But I’m not necessarily a proponent of making it impossible to do here on C2 either.
