BIG WASTE OF TIME AND MONEY

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From: "Abigail Cohen" aj_cohen@goldmansachs.com
To: tim.knight@investools.com
Subject: Technical analysis and performance
Date: Tue, 17 Mar 2009 07:39:07 -0700
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Mr. Knight,

Over the past several months, my team has been examining various financial web logs on the Internet to explore other techniques for investment analysis. Your own blog was one of them.

Although I have never been much of a believer in charts as the basis for fund allocation, I am nonetheless intrigued. I would appreciate chatting with you at your convenience on your own experiences. Please contact my assistant, [redacted] at [redacted] at your earliest convenience. I look forward to the conversation.

- Abby

Needless to say, I was taken aback, and more than a little embarrassed (although it was unlikely she or her staff saw any of my AJC jabs, since they are relatively infrequent).

In any event, I did (with some trepidation) call, and over the past couple of weeks they have been eye-opening conversations. I can't go into a lot of detail, but since things have happened very quickly, I will tell you the upshot - - - I'm going in a new direction with how I spend my time and what effect it is going to have on this blog.

After a lot of discussion and consideration, I have decided to partner with Goldman in the creation of a small, technical analysis-based hedge fund tentatively dubbed Cohen-Knight New Era Capital Management. The idea is to combine the strong branding of Abby Joseph Cohen (which, in spite of all my teasing, is a well-known and potent "brand") with my own charting methods and techniques. I don't have any exact dates, but we should be up and running sometime this summer.

This is obviously going to mean winding down Slope, since regulatory strictures (as well as the time I'm going to have to devote to New Era) make continuing with Slope impractical. This isn't an easy choice, particularly since I've been doing this so long, but I think this might be a once-in-a-lifetime opportunity. I'm pretty jazzed, and I'll keep you posted over the coming final weeks I'm doing the blog. Thanks.

http://slopeofhope.com/2009/04/01/time_for_a_change.htm