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FYI: If you are going to pay for a good manager, the managers of these funds are worth it. Regards, Ted 1. Matthew DeCicco 2. Kevin Landis 3. Malcolm R. Fobes 4. Huachen Chen 5. Walter Price 6. Joel P. Fried 7. Frank V. Jennings 8. Charlie Chai 9. Robert E. Hall 10.Robert L. Fitzpatrick 11.Charlie Chie 12.Christopher J. Bonavico 13.Mark W. Oelschlager 14.Rajiv Kaul. 15.Liu-Er Chen https://www.forbes.com/sites/kenkam/2018/06/01/the-6-greatest-mutual-fund-managers-of-the-last-decade-to-use-now/#3c0449ade678
Talk about not knowing where the bodies are hidden.
Kevin Landis buried Technology Leaders (TLFQX) in 2012 and Technology Innovators (TIFQX) (in 2008), and converted Firsthand's "flagship" fund Technology Value from an OEF (TVFQX) to a CEF (SVVC) in April 2011.
Aside from TEFQX, these were the three primary OEF technology funds that Kevin Landis managed for Firsthand. Since TVFQX is still going, albeit as a CEF, we can look at that first:
M* page (March 2011) on TVFQX , reporting a 10 year return 7%/yr below category avg.
Over the past five years (most of the time since the conversion), SVVC lost an average of more than 1%/yr, despite doubling over the past year.
Technology Leaders lasted through 2011 (a few years into this past decade). In its last five years (through 2011, just before it was buried), its return was -0.57% vs. 4.95% for TEFQX and 2.68% for technology funds (per M*), and -0.33% for VFINX.
In addition to TEFQX, Landis currently runs another OEF technology fund, Firsthand Alternative Energy (ALTEX), with 1,3, 5, and 10 year performance rankings of 98th percentile or worse.
If the idea is not to buy the fund, but to buy the manager in his niche of expertise (here, technology), I don't see how one could consider Landis (as opposed to just one of his funds) to have had a great ten year record.
Meanwhile, over at Morgan Stanley, Kristian Heugh put up ten years of sterling returns with Institutional Global Opportunity (MGGPX) as of May 30 (two days before the column). The fund was up 32.6% over the past year, just edging out POAGX at 32.4% for the 8th spot.
Nevertheless, Heugh didn't make the list (nor the amended list the following week). The bigger problem IMHO is that the four funds in the amended list are almost all sector funds (tech, biotech, and healthcare - see a pattern?). Trying to beat the S&P 500 with related sectors that were hot up to now is not my idea of how to build a solid portfolio.
@MFO Members: If I'm not mistaken, the Linkster brought Kristian Heugh to the attention of the MFO Discussion Board back in 2017 when I bought PONCX. Regards, Ted.
Comments
https://forbes.com/sites/kenkam/2018/06/08/greatest-fund-managers-redux-4-that-are-keepers/#1f3d9ae3554f
Kevin Landis buried Technology Leaders (TLFQX) in 2012 and Technology Innovators (TIFQX) (in 2008), and converted Firsthand's "flagship" fund Technology Value from an OEF (TVFQX) to a CEF (SVVC) in April 2011.
Aside from TEFQX, these were the three primary OEF technology funds that Kevin Landis managed for Firsthand. Since TVFQX is still going, albeit as a CEF, we can look at that first:
https://mutualfundobserver.com/discuss/discussion/240/did-anything-happen-to-tvfqx-firsthand-technology-value-fund
M* page (March 2011) on TVFQX , reporting a 10 year return 7%/yr below category avg.
Over the past five years (most of the time since the conversion), SVVC lost an average of more than 1%/yr, despite doubling over the past year.
Technology Leaders lasted through 2011 (a few years into this past decade). In its last five years (through 2011, just before it was buried), its return was -0.57% vs. 4.95% for TEFQX and 2.68% for technology funds (per M*), and -0.33% for VFINX.
In addition to TEFQX, Landis currently runs another OEF technology fund, Firsthand Alternative Energy (ALTEX), with 1,3, 5, and 10 year performance rankings of 98th percentile or worse.
If the idea is not to buy the fund, but to buy the manager in his niche of expertise (here, technology), I don't see how one could consider Landis (as opposed to just one of his funds) to have had a great ten year record.
Jaffe's take on Firsthand funds a bit more than a decade ago was to name the whole family his Stupid Investment of the Week.
https://newsok.com/article/3103075/firsthands-new-fund-more-of-same
Meanwhile, over at Morgan Stanley, Kristian Heugh put up ten years of sterling returns with Institutional Global Opportunity (MGGPX) as of May 30 (two days before the column). The fund was up 32.6% over the past year, just edging out POAGX at 32.4% for the 8th spot.
Nevertheless, Heugh didn't make the list (nor the amended list the following week). The bigger problem IMHO is that the four funds in the amended list are almost all sector funds (tech, biotech, and healthcare - see a pattern?). Trying to beat the S&P 500 with related sectors that were hot up to now is not my idea of how to build a solid portfolio.
Regards,
Ted.
I don't say F U anymore. I say Kevin Landis.