Minnesota based Covestor manager Leonard Fox worked for 25 years at AT&T. He retired from the company in 2003 to join Scarecrow Trading, which
provides absolute return market index signals for individual account management, investment advisors, and investment clubs.
In doing so, Scarecrow Trading has
developed various signals that are built with absolute return algorithms that can be used by individuals or professional firms. We believe that this strategy can be a critical component to any investor’s overarching portfolio management strategy. All of our signals are End of Day trading signals. Ideal for mutual funds or ETF’s. Signals are delivered and posted AM for trades to be executed at close.
Fox holds an MBA from Regis University. At Covestor, Fox manages the Symphonic Index model, which
uses the Symphonic Index. The Symphonic Index uses 4 methods of exposing a composite of 7 signals to determine market exposure. One method is static and the other 3 are dynamic. The system trades leveraged 2x Beta ETFs and at times takes positions in inverse ETFs.
Current top holdings include ProShares Ultra Russell2000 (NYSE: UWM) and Proshares Ultra QQQ (NYSE:QLD), both of which Fox reduced positions in on 3/28. Each is a leveraged ETF. UWM seeks daily investment results that correspond to twice (200%) the daily performance of the Russell 2000 Index and QLD seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index.
