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Was Nakoma, then turned into an odd little l/s fund. Sorry to hear for Vintage that it never turned around, but good you can move on to something else w/it.
Dear Vintage Freak: Hope you didn't lose too much. Unfortunately, there is still another turkey left, the Schooner Fund with a big expense and little return Regards, Ted
Yes Ted, but that's the original Schooner Fund. This one was the one Nakoma sold, as someone already pointed out.
Nakoma fall was very disheartening. Their pedigree seemed unquestionable. Somehow I remember I was not the only one suckered in though; hope old timers here can admit to being swayed as well. Though I probably was the only one who had held shares for this long. You see, I have a lot of tax losses on the book already and didn't want to accrue more. Was hoping to sell breakeven. I lost 15% off my investment. Could have been more, but my rule about not reinvesting dividends reduced my losses.
Bought Fairholme and Hussman while everyone was dissing them. Doing well with Fairholme, not so much with Hussman. I guess, you win some you lose some, and will never really know until it is "long term", but not really that long term in the sense, "in the long term we are all dead".
Reply to @VintageFreak: I did not invest in Nakoma but I did invest in Utopia Growth (UTGRX) in 8/2007 and 9/2007. I sold those positions at a loss in 2/2008 and 5/2008 and finally 6/2008. Fund liquidated in 12/2008.
Comments
Kevin
Regards,
Ted
Nakoma fall was very disheartening. Their pedigree seemed unquestionable. Somehow I remember I was not the only one suckered in though; hope old timers here can admit to being swayed as well. Though I probably was the only one who had held shares for this long. You see, I have a lot of tax losses on the book already and didn't want to accrue more. Was hoping to sell breakeven. I lost 15% off my investment. Could have been more, but my rule about not reinvesting dividends reduced my losses.
Bought Fairholme and Hussman while everyone was dissing them. Doing well with Fairholme, not so much with Hussman. I guess, you win some you lose some, and will never really know until it is "long term", but not really that long term in the sense, "in the long term we are all dead".