Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
M*'s Five Nominees For Domestic-Stock Manager of the Year 2011
My nominees would include the team at Artisan Mid Cap Value ARTQX (M* got that one right!), Sam Stewart at Wasatch Strategic Income WASIX, and Kris Jenner of T. Rowe Health Sciences PRHSX. And for my money, the team at BlackRock Equity Dividend MDDVX, Sextant International's Nicholas Kaiser SSIFX, the team at First Eagle Overseas (SGOVX), and Tom Forester FVALX. All have done yeomen's jobs in a very bizarre market.
Two comments to this article from M* with which I agree:
...since inception in 1995 OAKBX achieved better returns than YACKX, with a much smaller risk.
Of course Yacktman received the most votes. Usually whichever manager has performed the best recently does, as investors are usually VERY short-term emotional thinkers. Not saying he does not deserve it, as he has a proven record of long-term value investing, but I wonder how many investors who just voted for Yacktman would have stayed in his fund in 98/99 when his performance was equally as bad as Fairholme's is now.
Comments
http://news.morningstar.com/articlenet/article.aspx?id=450078
Regards,
Ted
...since inception in 1995 OAKBX achieved better returns than YACKX, with a much smaller risk.
Of course Yacktman received the most votes. Usually whichever manager has performed the best recently does, as investors are usually VERY short-term emotional thinkers. Not saying he does not deserve it, as he has a proven record of long-term value investing, but I wonder how many investors who just voted for Yacktman would have stayed in his fund in 98/99 when his performance was equally as bad as Fairholme's is now.