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Founders Of Watch Fund Too Good For Shorting, Leverage

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Last January, Ms. Mascherin and her partner, Michel Tamisier, both former managers at the French fund Carmignac, created Precious Time, a fund dedicated to collectible watches. In a world hungry for placements and starving for returns, advisers are finding that “exotic” investment products have a refreshing appeal. “We see desperation around because traditional investments, including alternatives like real estate, private equity or hedge funds, have seen tremendous volatility since 2008,” said Massimo Monti, a principal at Rasini & C., an independent advisory company specializing in alternative and hedge fund investments. Ms. Mascherin said: “We are not leveraging and we are not shorting. Our shareholder is the owner of the physical stock. It is not a virtual investment.” [NYT]


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