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I'm guessing they only looked at funds they THEY cover. IMO, the biggest succession challenge is @ CGM. Heebner was at least 70 the last time I looked, and I had more hair then.
Mea culpa. I'm still with CGMFX. The only reason I have stuck with CGMFX and FAIRX is because I have always taken my CapGains and I'm still in the + column. Some day Heebner is going to be right on his short bonds. Hopefully he is still around when he is proven right.
Well, since Nov it's been serious rock 'n' roll for him.
I failed to make clear that I bailed on CGMFX because I retired and needed to recalc holdings in all sorts of ways. I also bailed on Soviero then. I was with him too for a good spell, and one of my kids likewise.
I do not much believe in someone 'losing his touch', and like to stick w managers, or so I claim. Though after >8y of subpar, it's often easy to think they have indeed lost it.
I do sometimes get irked at particular decisions (Berkowitz, Herro, Parnassus, ...). Someone here once wrote that whenever he sold FLPSX he soon enough looked back and really regretted it. I also switch following presence of new competition, w say similar selection processes and a lower ER.
A local friend who knows Heebner (a little bit anyway, but the friend works in big finance downtown) says he's famously quite the nerd, spottable in libraries and during visits to various offices sitting alone poring over page and pages of data, pen and paper in hand.
He and Tillinghast (another major biz ops nerd scholar) live like a few blocks apart in the Back Bay. That always fascinated me when I first learned it long ago. What a couple of researchers and memorizers.
Comments
I guess M* thinks WEMMX has backup.
I failed to make clear that I bailed on CGMFX because I retired and needed to recalc holdings in all sorts of ways. I also bailed on Soviero then. I was with him too for a good spell, and one of my kids likewise.
I do not much believe in someone 'losing his touch', and like to stick w managers, or so I claim. Though after >8y of subpar, it's often easy to think they have indeed lost it.
I do sometimes get irked at particular decisions (Berkowitz, Herro, Parnassus, ...). Someone here once wrote that whenever he sold FLPSX he soon enough looked back and really regretted it. I also switch following presence of new competition, w say similar selection processes and a lower ER.
A local friend who knows Heebner (a little bit anyway, but the friend works in big finance downtown) says he's famously quite the nerd, spottable in libraries and during visits to various offices sitting alone poring over page and pages of data, pen and paper in hand.
He and Tillinghast (another major biz ops nerd scholar) live like a few blocks apart in the Back Bay. That always fascinated me when I first learned it long ago. What a couple of researchers and memorizers.