1/n A 🧵 with some questions I have for @GRDecter. I'm confused so I'm hoping you can clear everything up. First, you make repeated statements that you managed/ran the Redwood Global Smallcap fund for 7 years, including through the 2008 financial crisis.
2/n As an investment fund registered in Canada, all of the fund's regulatory filings are available at sedar.com. I was particularly interested in the fund's Annual Information Filings for each of these 7 years.
3/n starting with the first one, dated May 2008, the fund's inception. For some reason it says that the portfolio manager of the fund is someone named Michael B. Decter.
4/n 2009 (which would have covered "through the 2008 financial crisis"), I see the same:
5/n 2010:
6/n 2011
7/n 2012 which has a slight change, saying this person is still principally responsible for the portfolio management decisions, and "oversees and approves them."
8/n Checking with the Canadian Securities Adminsitrators, it seems you weren't even registered as a portfolio manager until December, 2011 (unconfirmed rumors that this is after the 2008 financial crisis), about 3.5 years into the fund's inception.
9/n I'm also wondering how one manages a fund for 7 years when only registered as a portfolio manager for 4 years and one month. Moving on.
10/n 2013
11/n 2014 Here, it appears, if I'm not mistaken, is the first time you appear as a "co-portfolio manager" of this fund.
12/n This seems to be the final year of the "7 years", as in May 2015 the firm stopped managing this fund.
13/13 So the Qs are: 1) How did you manage/run a fund from 2008-2015 when not apparently not registered as a PM until 2011, and 2) Why is someone else listed as the sole PM for the first several years, and as the principal PM for all 7. Or am I wrong on all of this? Thanks.
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