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I see in M* that there are 2 co-managers working with Akre. With Charles up there in age, maybe he made his succession plan with the one who stayed, John Neff, and the other got pissed off.
Mr. Akre has a good reputation of training successors; i would not be too worried at this point.
FYI: I have a significant amount invested in AKRIX/AKREX.
Maybe that's not the point. I took my money and ran from AKREX few years back. Manager age is a concern to me. I'm not sure about what "track record" he has of training replacement managers. The fact is one of them left.
All I can hope for existing investors is Akre does not end up like Third Avenue.
VF I was referring to an article on m* which was referring to his time at Hennessy. I should have been clearer. Still no reason for his departure either.
Yes age is a concern but I am willing to give it some time.
Doesn't make sense to me to leave a very successful fund manager because he's getting older. Why not let performance guide you? There has been no drop off there. Rank in category, 7 in past 3 years, 2 in past 1 year, per M*.
Agreed Mike. The only point I was trying to make with age is that you buy the manager And until it’s proven the other managers cannot continue to perform at a high level then I am going nowhere.
This fund has been very good to me. I’m staying invested unless something drastic occurs.
I agree I sold AKREX early. Fact is, I didn't think Akre was going to stay at the helm for so long. Oh well. I doubled my money before I got out. Wish I could the say the same about all my investments.
Comments
FYI: I have a significant amount invested in AKRIX/AKREX.
All I can hope for existing investors is Akre does not end up like Third Avenue.
Yes age is a concern but I am willing to give it some time.
This fund has been very good to me. I’m staying invested unless something drastic occurs.