Slowing global growth, uncertainty surrounding interest rate policy, and depressed commodity markets are creating short opportunities in names like Textainer (TGH), 2U Inc. (TWOU) and Wynn Resorts (WYNN), said Andrew Ver Planck, portfolio manager of the MainStay U.S. Equity Opportunities Fund (MYCIX). 'January was a great period for short-selling, but now that the S&P has started to recover in February it has become quite challenging,' said Ver Planck. 'We still have several names in our portfolio that we are short that we do find attractive, but you have to carefully pick your entry and exit points because there is the risk of a run-up in the market.' The MainStay U.S. Equity Opportunities Fund is down 7% thus far in 2016, according to fund-tracker Morningstar. The $930 million long/short fund has returned an average of 13.7% annually over the past three years, outpacing 91% of its peers in Morningstar’s large blend category.
More from Education
The expected overbought reading will likely be either a pullback or sideways digestion, but not a collapse.
Check out these hidden messages in your wallet.
Jim Cramer recently sent Bucknell University's graduating class off with their diplomas and some crucial advice.
If you can push of taking those Social Security payments until you hit 70, you actually will be better off financially for a number of reasons. Robert Powell, editor of Retirement Daily, tells us what there are here so watch now!
During this Women's History Month, we are focusing on Wall St. and the women that have made their mark throughout history. Today meet the Witch of Wall Street, who also happened to be the richest woman in America back in the 1800s.