Since May 10th the Sigma1 Fund is down over 1000 dollars, closing today at $37,856.48.  I’ve been thinking about reducing the leverage of the fund from its current 1.57X to closer to 1.2X.  I have been weighing the cost of realizing some short-term capital gains versus a desire to deleverage.

On a separate note I’ve been bogging up a storm at my other other investing blog at Balhiser Investing.  There, I try to keep the topics less technical and more accessible to a wider investing audience.

* Sigma1 is a proprietary trading group fund, and is not currently available to outside investment.  It is currently structured as a long-short macro-centric hedge fund with long positions in equities (domestic and foreign) and junk bonds, and short positions in international bond ETFs.