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what are some of your stories? probably involving 2008 crash?[where I lost ~ 50% since that was my 2nd yr of investing but luckily kept at it and gained it all back]
I generally don't discuss funds I've owned, but it's worth making an exception here, because this was a holding I went into with eyes wide open - taking a flyer despite knowing all the strikes against it.
PBHG Emerging Growth (PBEGX). Managed by Christine Baxter, the 25 year old daughter of the fund family's co-founder (Harold Baxter); a fund family focused on momentum investing (guaranteed to crash and burn at some point) - sort of like Janus on steroids if that was possible; and a fund family just as caught up in the 2003-4 fund scandals as was Janus.
As this M* column notes, PBHG wasn't well staffed with analysts and had high management turnover including Baxter, who stepped down at the end of 1999 after erratic and underwhelming performance (relatively speaking).
At least I sold it in early 1999 - on an absolute basis, the fund did great; on a relative basis it underperformed by more than 10%/year for several years (see link on Baxter stepping down).
Some people go to Vegas; I decided to spend my play money this way.
"Roy Weston", based on a glowing article in the WSJ back in the 90's. Environmental waste disposal for chemicals and other nasty stuff. You never heard of it? Try this link:
"Trust: We build long-term trusted client relationships"
"Performance: Over 55 years of proven experience"
"People: Our people make the difference"
Our Core Values:
Integrity .. Teamwork .. Focus .. Safety .. Exceptional Quality .. Making a Difference
Odd... they don't mention bankruptcy in there anywhere...
Followed John Deassauer into CPPokphand. Should have been alert when Dessauer said Angelo Mozillo was a fine man running a fine company (Countrywide Credit). I wonder if anyone has done a study of how frequently headlines in the WSJ report dishonesty, fraud, corruption, and other misdeeds; it seems to me that the financial industry is rife with miscreants. But then again, who I am I to judge?
"I wonder if anyone has done a study of how frequently headlines in the WSJ report dishonesty, fraud, corruption, and other misdeeds"
@BenWP- Actually, to my surprise, the WSJ is pretty good about not only reporting but actually doing the hard background spadework to highlight a fair number of what turn out to be fairly major financial shenanigans. Their front-page staff seems, even under Rupert, to have a pretty long leash.
I've made many dumb moves. Probably selling a couple beautiful 1-oz K-Rands for about $285 each in 2001 ranks as dumbest. Picked absolute low in the market to unload. "Disinvestment" is a better word in this case.
Question's not about good investments. But I'd list buying a home, investing with T. Rowe Price and doing a Roth conversion in March 2009 as among the better moves.
Comments
Derf
PBHG Emerging Growth (PBEGX). Managed by Christine Baxter, the 25 year old daughter of the fund family's co-founder (Harold Baxter); a fund family focused on momentum investing (guaranteed to crash and burn at some point) - sort of like Janus on steroids if that was possible; and a fund family just as caught up in the 2003-4 fund scandals as was Janus.
As this M* column notes, PBHG wasn't well staffed with analysts and had high management turnover including Baxter, who stepped down at the end of 1999 after erratic and underwhelming performance (relatively speaking).
At least I sold it in early 1999 - on an absolute basis, the fund did great; on a relative basis it underperformed by more than 10%/year for several years (see link on Baxter stepping down).
Some people go to Vegas; I decided to spend my play money this way.
"Trust: We build long-term trusted client relationships"
"Performance: Over 55 years of proven experience"
"People: Our people make the difference"
Our Core Values:
Integrity .. Teamwork .. Focus .. Safety .. Exceptional Quality .. Making a Difference
Odd... they don't mention bankruptcy in there anywhere...
@BenWP- Actually, to my surprise, the WSJ is pretty good about not only reporting but actually doing the hard background spadework to highlight a fair number of what turn out to be fairly major financial shenanigans. Their front-page staff seems, even under Rupert, to have a pretty long leash.
http://scripophily.net/worincmcigro1.html
Scandal-related certificates:
http://scripophily.net/fraudscandis.html
Question's not about good investments. But I'd list buying a home, investing with T. Rowe Price and doing a Roth conversion in March 2009 as among the better moves.