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FAIRX ... Keep or Lose It

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  • It looks like per M* data, procrastination is hurting you. FAIRX is down about -11% for the month (FAAFX slightly worst), compared to the S&P 500 down about -5%.

    In hind sight, it appears that Berkowitz does not fit the definition of a great active manager. Over the last 10 years he has under performed the S&P by almost 3% a year on average. In the last 5 years he has under performed by an astonishing 12% a year.

    So, are the chances Berkowitz some how turns things around better than switching to an index or a more stable manager?
  • Hi expatsp:
    I manage, or mismanage, retirement accounts for 2 kids and their spouses. Bought FAIRX maybe 10 years ago, sold maybe 5 years ago. Why? The 'star' manager phenom. Some of those 'kids' are more attuned than others, but none of them have the level of cynicism I do. I like the team managed stuff, thinking that there might be some continuity over the coming years. I use two you mentioned: Primecap and Dodge & Cox. Tweedy Browne Global has been in their ports for years as well, although I think their ER stinks: they don't trade an awful lot and won't buy anywhere they can't drink the water - so whats the deal with 1.40 ER?
    Am taking antacids over Sequoia: thought I had a good one there. We'll see if they can right the ship.
    Matthews MACSX requires monitoring now - I have been neglectful of their management changes. Artisan ARTGX can stay for a while and we'll see. Bridgeway B
    ridgeway is another concern of
  • Sorry about the scrambled ending...what happened to this damn thing? I'm referring to my brain, of course...
    best, hawk
  • yeah, one of the many things to like about Danoff and Tillinghast is that theirs is at least to some extent effectively a team approach.
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