The managers of the Nashville Area ETF are basking in some pretty strong performance numbers. Research firm Lipper has the 15-month-old investment vehicle atop its list ranking the performance of more than 800 ETFs and mutual funds focused on the core small-cap companies. The ETF (Ticker: NASH) has about $9 million in assets under management and is changing hands this afternoon at around $30. It has climbed 10 percent year to date.
Local investment manager Andrew Cunagin caught the eye of many a market watcher late last week when he said high-frequency trading played a big part in his decision to shut down his Rinehart Capital Partners firm, which had less than $100 million in assets and had consistently posted losses since the end of 2011. In a letter to investors, Cunagin — who is based in downtown's SunTrust Plaza — also railed against the many investors and traders who have lost sight of fundamentals and are becoming more and more speculative.
"The frustrating thing is that this is precisely the time when you shouldn't be giving up," Mr. Rinehart said in the interview. "Anyone who shorted the 'dot coms' in the 90s had bad performance, and those ended up being the trades of the decade."
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