Last Wednesday, May 28, I interviewed Steve Lehman and Dana Meissner, who are the co-managers of Federated’s Market Opportunities fund.
Here’s a description of the fund from the product information page that can be found here.
The fund seeks to provide absolute (positive) returns with a low correlation to the U.S. equity market by investing globally in a wide variety of asset classes. It may also sell securities short and can have an overall net long or short position relative to particular asset classes. The fund pursues its investment objective using a contrarian value orientation.
They generally have a dim view of equity markets, but they were appropriately bullish early in 2009. You might want to put away any sharp objects before reading on.