Ashva Capital Management August 2019 Commentary: A Look At The Indian Stock Market

Ashva Capital Management commentary for the month of August 2019. Q2 hedge fund letters, conference, scoops etc Dear Limited Partner Nobody can successfully time the market. A recent study done by DALBAR provides additional evidence for this fact. The study found that the average investor underperformed the S&P 500 in both up and down markets over the course of 2018. The S&P 500 ended 2018 down (4.38%), but the average investor was down (9.42%) for the year. What caused the 504 bps of underperformance? Yes, you guessed correctly if you said poor market timing. The average investor took money off…