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HSGFX now negative for the year

hank
edited October 2021 in Fund Discussions
This 21 year old fund’s a former board favorite. John Hussman’s writings were often displayed and discussed. Real looser of a fund however. You’d have made less than a half-percent annually had you bought the fund when it opened 21 years ago.

I owned the fund for a year or so and sold it probably 15 years ago. But can’t stop from tracking it and hoping this seemingly gifted financial analyst and writer could somehow turn his floundering fund around. HSGFX got off to a good start this year and everything looked promising. But the fund’s been in a nose-dive now for several weeks. Today’s negative 0.49% return puts the fund into negative territory YTD.

I can sympathize with him if he thinks the markets are overvalued and has pulled back./ gotten defensive. I happen to agree with that prognosis. But, managing a fund like this is “big league” stuff. More is expected.

HSGFX

ER 1.23%

Early Redemption Fee 1.50%

Lipper Link

Chart

image

Comments

  • AndyJ
    edited October 2021
    His allocation fund HSAFX isn't all that great, but at least it's up 7% ytd and was up 11% in 2020 (M* figures).
  • hank
    FWIW - HSAFX’s allocation per Lipper:

    46% Stocks

    41% Cash

    13% Bonds

    0% Other
  • Sven
    edited October 2021
    You’d have made less than a half-percent annually had you bought the fund when it opened 21 years ago.
    That is really sad. After 2% inflation, the investors are behind every year.
  • Observant1
    edited October 2021
    Mr. Hussman was renowned for predicting the market meltdowns of 2000-2002 and 2007-2008.
    He has been a perma-bear since then.
    When you look that up (perma-bear) in your Funk & Wagnalls, there is a picture of Mr. Hussman!
    Long-term HSGFX and HSIEX performance has been abysmal.
  • Sven
    edited October 2021
    One would think the asset base gets smaller every year as the investors flee to elsewhere. If nothing else, one do better with a 60/40 balanced index fund.
  • carew388carew388
    +1 Yes-probably any of the hundreds of competent 60/40 balanced funds !
  • Observant1
    edited October 2021
    According to M*, HSGFX has $365.7 Mil in assets.
    I wonder why investors have stuck with this dog?
    This reminds me of the Steadman Fund family.
    Pundits have labeled several Steadman funds as the worst of all time.

    "You might wonder why anyone would even consider investing in funds operated in such a manner and with such draconian performance. The answer is that they didn’t. From 1988 until 1998 the fund did not acquire any new investors. But many current investors simply failed to sell, which enabled Steadman and his family to continue to milk the funds as a source of income for themselves. While some investors presumably stopped paying attention, a large number actually died while holding the fund. The L.A. Times stated that by 1998 fully 40% of the accounts had been legally abandoned. One can only speculate as to whether or not the funds’ performance had any hand in their demise."

    Link
  • VintageFreakVintageFreak
    I have opined several times. Design vs Implementation. If you want to invest with Hussey, go with HSTRX. At least you will not use money.

    Waiting for HSGFX to turn around is like holding something like Rydex BEAR, maybe worse than that.
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