|Economist Dennis Gartman is finally setting up his own hedge fund, the River Crescent Fund. Since 1987, Mr. Gartman has been the editor of “The Gartman Letter,” a daily commentary on capital markets that covers political, economic and technical circumstances from both a long and short term perspective. The letter’s website include accolades from John Trammel of the Investor’s Select Funds, Nigel Saperia of Glencore Commodities Fund and Mark Kingdon of Kingdon Capital|
According to Bloomberg, the River Crescent Fund will employ a long/short strategy that invests in commodities and global equities, based on the recommendations made in Mr. Gartman’s self-published “Gartman Letter.”
In March of this year, Mr. Gartman partnered with Canada’s AlphaPro Management Inc. to launch the Toronto-listed Horizon AlphaPro Gartman Fund (T: HAG.UN), a global actively managed fund that plans to convert into an actively managed ETF by no later than March 31, 2010. As of Friday’s close, the fund’s market value was $CAD 45.72 million, having fallen approximately 9.6% since inception.