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August Commentary: Saturday, August 12, it's alive!!
There will! Scotland's parting gift to us was a bout of COVID which has laid Chip, particularly, low. She's still down 20 hours a day. As soon as health returns: Devesh shares interviews with three fund managers (including Scott Barbee), I do the run down on eponymous funds, Lynn looks further into Vanguard, RiverPark launches a new SCG fund and more!
Sorry to hear about the COVID. Prayers for a speedy recovery.
I hope this isn't a widespread issue in Scotland. I have relatives over there for the Fringe Festival.
In the meantime, I continue to get unexpected pleasure out of that picture of the bridge being blown up. Seems strangely appropriate for an investing site in my peculiar opinion. I am thinking about using it as the wallpaper for my desktop 'puter.
My best wishes to Chip for a rapid recovery @David_Snowball. An MD friend of mine, one who had volunteered at testing sites early in the pandemic had remained Covid-free during the entire emergency up until the time last month when she went on a safari in Kenya with her family. She was the only one in her party to get it. The masks went back on, the old protocols followed, and her trip was disrupted, but not ruined. It’s a nasty, ubiquitous disease that doesn’t have the good manners to announce its presence.
Sad to learn of the covid. Please get well soon. And @davidmoran is correct. You deserve the break. No one has to be convinced about how diligent, smart and conscientious all of you are--- the cadre who always put together each month's Review. Get well soon.
Thanks for your good thoughts, I've shared them with Chip. She's mostly up and about now, but gets fatigued a bit more easily than she's used to. That said, we're pretty confident that we'll be live Saturday.
I'm using the extra time to play a bit with my essay on eponymous funds. Roughly, what should an investor do when OJ steps away from managing The OJ Fund? The statistical answer appears to be "nothing much unless OJ sells the fund to some crazy on his way out to his palatial retreat in Cabo."
But for your summer distraction, I decided to add a bit of ... historical color by looking at the fate of the Mathers Fund, at which Mr. Bruce the Elder began his fund career, and the Fasciano Fund. I restrained myself from any recounting of the horrors of the Steadman / Ameritor empire (who now remembers Steadman Oceanographic or the decision by Steadman's daughter, after his passing, to keep the fund open and collect its double-digit expense ratio until it closed the decade with a loss of 98.98%?)
"what should an investor do when OJ steps away from managing The OJ Fund?"
Firstly, anyone who had placed money in The OJ Fund is not an investor, but a dope.
Lastly, when OJ steps away from managing The OJ Fund it may signal potential investors to contemplate committing some small amount of cash to the fund, as it certainly has nowhere to go but up.
"what should an investor do when OJ steps away from managing The OJ Fund?"
Firstly, anyone who had placed money in The OJ Fund is not an investor, but a dope.
Lastly, when OJ steps away from managing The OJ Fund it may signal potential investors to contemplate committing some small amount of cash to the fund, as it certainly has nowhere to go but up.
Regards, OJ
When OJ steps away from managing the OJ Fund, be on the lookout for a white luxury SUV zooming its way through traffic on the freeway somewhere in America with the driver shouting "I WON THE GAME!" /ducks
@Old_Joe: he may well have started someone clever on the path to creating the latest-crazy-idea ETF. 2X futures contracts on America's favorite breakfast drink, with a large chunk of Florida real estate short holdings as selected by associate portfolio manager B. Berkowitz. The fund won't lack for a gimmicky slogan, either. "Go, OJ; Go, OJ!" probably belongs to Hertz, but who cares about copyright in a cause as noble as launching a fund?
An actionable take from OJ was that funds within the T-IRA and 401k/403b cannot be touched, period, except by their owners. Even OJ's lawyer who were stiffed for their fees at some point (well, OJ was in jail) couldn't access OJ's retirement funds - they tried, including going through the courts.
Comments
David
The Commentary can wait. Thanks for the update.
I hope this isn't a widespread issue in Scotland. I have relatives over there for the Fringe Festival.
In the meantime, I continue to get unexpected pleasure out of that picture of the bridge being blown up. Seems strangely appropriate for an investing site in my peculiar opinion. I am thinking about using it as the wallpaper for my desktop 'puter.
Wishing Chip a speedy recovery!
Chip, wishing you a speedy recovery and hope you are feeling better soon.
I'm using the extra time to play a bit with my essay on eponymous funds. Roughly, what should an investor do when OJ steps away from managing The OJ Fund? The statistical answer appears to be "nothing much unless OJ sells the fund to some crazy on his way out to his palatial retreat in Cabo."
But for your summer distraction, I decided to add a bit of ... historical color by looking at the fate of the Mathers Fund, at which Mr. Bruce the Elder began his fund career, and the Fasciano Fund. I restrained myself from any recounting of the horrors of the Steadman / Ameritor empire (who now remembers Steadman Oceanographic or the decision by Steadman's daughter, after his passing, to keep the fund open and collect its double-digit expense ratio until it closed the decade with a loss of 98.98%?)
David
Firstly, anyone who had placed money in The OJ Fund is not an investor, but a dope.
Lastly, when OJ steps away from managing The OJ Fund it may signal potential investors to contemplate committing some small amount of cash to the fund, as it certainly has nowhere to go but up.
Regards, OJ
Great to know Chip is on the upswing.
Nah, not at all my style... maybe a silver gray luxury pickup truck, though. Zooming through traffic, for sure.
@hank- hey! I thought I did pretty well. If I didn't manage him, at least I irritated him really good.
@David_Snowball - now look what you've started!
If somebody can figure out how to make money on this I demand my cut.