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For David/Yikes Fund of the Year: Team Asset Strategy (TEAMX)
If David is looking for material for a future month update, this may make for an interesting little portion.
This fund actually started off really quite well in 2010.
The fund website was last updated 12/11 with the outlook for 2012: "In many respects, I think it would be productive for us and our investors to pull a Rip Van Winkle next year. My confidence in our outlook is pretty high, but I think we are likely to endure an unpredictable journey to get there. Falling asleep for 12 months would probably be easier, but that would result in missing all the "fun"!"
It would appear to be a case of some shorting and thinking that gold miners were cheap. Long gold miners and some market shorts. I mean, I am by no means perfect by any means, but if something clearly isn't working, it isn't working.
Well, that is a fascinating NAV chart, isn't it. Thanks for the lead. They weren't on my radar for good or for ill, and I'm always intrigued by boldness!
Comments
1.93% ER
439.3% Turnover
Fiduciary responsibility does not seem to be part of their make-up.
Just awful.
David