Interesting link, @davidmoran, to 2013 MFO commentary. The link to Sam Lee's M* article on CAPE is worthwhile, particularly where he says he'd prefer more history than just back to 2002. He was also very prescient in saying he'd feel more comfortable if CAPE were shown to work in overseas markets. As members have said here, DEULX has not really shown much until this year.
My re-reading also reminded me that the Oakseed Boys were announced with some fanfare in that issue of MFO and RPHYX appeared to be a world-beater. History was not kind to SEEDX (liquidated in 2017) and RPHYX tested shareholders' patience when Mr. Sherman seemed to stumble in trying to explain a period of severe under performance. I previously in this thread noted (obliquely) that Ryan Caldwell's Chiron Capital Allocation (CCAPX) fund benefited from a nice write up in MFO and then promptly showed it couldn't keep up with its M* bogey. The success of CAPE really stands out against a backdrop of a several failed efforts to invent a new mousetrap.

That didn't come out right.
My point is If anyone bought say QLENX 3 years back, she has no trouble holding onto it for the "long term". If one bought it in Jan, it is hard to hold on to it.
Easy to criticize investors for "buying high and selling low". At "opportune" times, i.e. never in a bear market but after bull market has recovered we keep seeing articles "only if investors had held onto..." etc. etc. As if investors never EVER sell a fund at the right time. As if funds NEVER break, and then go down.
WTF did I hold on to HSGFX? Because I bought it early. Was that a good decision. No? I held on for the long term didn't I? OTOH if anyone bought Hussman 5 years back and sold it in 6 months he came out ahead. Then my investment in TFS funds. I held on for long time. What happened? Before they could turn around, they simply folded. SEEDX anyone? How many people held on SEEDX for the "Long Term"?
Regarding OTCRX, I'm able to "hold on" because of WHEN I bought it. It's easy when portfolio shows positive returns for a fund. Not otherwise.
My point. WHEN you buy, and sell, is important. MUCH more important than which fund you buy. "Long Term" is bullshit and term coined solely to make sure enough foolish assets stay with the firm so they can continue to rake in fees.
EDIT: Let's see how many SFGIX holders hold on for "long term" if they purchased YTD. What I know is if $ goes up / E goes down, I'm going to buy ARTYX, ARTZX and then trade them. Long Term can kiss my a**.

@BenWP: don't even talk about SEEDX. I still feel like throwing up whenever I think about it. Only one of them was former Oakmark. Never fell for the former FAIRX guys.

Two other funds that flopped badly despite the apparent good pedigrees of the managers are SEEDX (ex-Oakmark guys, now defunct) and GOODX (ex-Fairholme guys, now 1 star). It seems hard to predict how a manger will do based on where s/he trained.

I used to own this fund. I sold it as part of my last technical ANALysis since I knew this was going to suffer the same fate as JORDX, SCMFX, SEEDX, et. al

Well I got out of SCMFX because it was obvious I let myself be hoodwinked. SEEDX I decided to give more time. At least it provided some returns YTD. Already put in sell order. At least I opened a position in MOATX instead of giving additional money to SEEDX. Now I can seed the moat once more.
RSAFX and now SEEDX. I own 2 less funds. Yay !!!

https://www.sec.gov/Archives/edgar/data/1318342/000139834417007124/fp0026108_497.htm
497 1 fp0026108_497.htm
Oakseed Opportunity Fund
Investor Class (SEEDX)
Institutional Class (SEDEX)
A series of Investment Managers Series Trust
Supplement dated May 31, 2017, to the
Prospectus, Summary Prospectus and Statement of Additional Information, each dated May 1, 2017.
Jackson Park Capital, LLC (the “Advisor”), the Fund’s advisor, has given notice of resignation as investment advisor of the Oakseed Opportunity Fund (the “Fund”), effective on or about June 30, 2017. The Board of Trustees of the Trust has therefore approved a Plan of Liquidation for the Fund which authorizes the termination, liquidation and dissolution of the Fund. In order to perform such liquidation, effective immediately the Fund is closed to all new investment.
The Fund will be liquidated on or about June 30, 2017 (the “Liquidation Date”), and shareholders may redeem their shares until the Liquidation Date. On or promptly after the Liquidation Date, the Fund will make a liquidating distribution to its remaining shareholders equal to each shareholder’s proportionate interest in the net assets of the Fund, in complete redemption and cancellation of the Fund’s shares held by the shareholder, and the Fund will be dissolved. Shareholders redeeming Fund shares worth over $250,000 on or before the Liquidation Date may request redemptions by “in-kind” distributions of portfolio securities (instead of cash) from the Fund. Any shareholder wishing to redeem its Fund shares in kind must contact the Advisor at least 15 days prior to the Liquidation Date or date of redemption, as applicable. If a shareholder receives an in-kind distribution, the shareholder could incur brokerage or other charges in converting the securities to cash.
In anticipation of the liquidation of the Fund, the Advisor may manage the Fund in a manner intended to facilitate its orderly liquidation, such as by raising cash or making investments in other highly liquid assets. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with its stated investment strategies, which may prevent the Fund from achieving its investment objective.
Please contact the Fund at 1-888-446-4460 if you have any questions or need assistance.
Please file this Supplement with your records.

I have RWGFX and RSIVX in IRA. SEEDX I never did sell, and sold SCMFX itself. Now that I remember, SCMFX was my biggest blunder.

Best: DSENX, SFGIX, Grandeur Peak, RPHYX
Disappointments: SEEDX, RWGFX, FOBAX, RSIVX

So I'm reading reports for both SCMFX and SEEDX. I'm actually contemplating to buy more of SEEDX using SCMFX partial proceeds which I already sold. I sold part of SCMFX because I've pretty much made up my mind it was a wrong buy. With SEEDX it is not so easy. Nothing like putting money at stake to prove/disprove your thesis. Expect to make decision soon.
SEEDX managers are talking about investing in undervalued parts of the market. I can put that down to manager skill or lack there-of. If managers are skilled, it will pay off
SCMFX manager looks like he is (pretending to be?) an economist. Time will tell. The report is bringing forth visions of Muhlenkamp with his theories that can make someone that has no experience understanding (me at that point) believe he has suddenly become intelligent. Thats dangerous for one's portfolio. I'm glad I sold part of SCMFX already. Such managers regardless of whether they are right or wrong, still underperform the index. If you are so smart, you need to perform better in downturns. Let's see.

So I've sold part of my position in SCMFX. FWIW, I have concluded it is not better / worse than any other fund of its kind. It is indeed a bull market fund, so I've a little bit of tax loss harvesting and will wait patiently.
Now SEEDX. It seems to have loaded up on healthcare AFTER its big run up in past years, and this seems to have been its undoing. I might sell part of its position, but that's less likely. What is more likely is I conclude the manager's theory is just wrong (like I correctly did with MUHLX and got out at right time several years back), sell all and never look back.
FWIIMH

At Morningstar the capture ratios are under the tab for risk and ratings

Yup, but I wanted them over a narrower time frame than 1 year. I wanted to do YTD, Monthly, Weekly if possible. Numbers are already bad for longer durations on M*.
For instance, SEEDX has obviously bad numbers 1 year for D and U. 3 year they are better for D, but given fund always owns cash, and was even less fully invested at inception, its not surprising both D and U numbers are less than 100%, and even then D is higher than U.
We have to make decisions in the present. Someone will always come along and tell me 3 years after I sell what an idiot I am. Can't make decisions in hindsight and foresight. Important for me to know how fund is doing at present - how is it handling current market conditions. I'm thinking data is out there and someone is capturing it.

Not sure how I missed this fund. I own all the Intrepid funds in my Scottrade account. I would have bought it at inception. On the other hand, I could sell SCMFX and SEEDX and still buy it. If nothing else it will signal market top :-)
Anyone own this?

I have a very weak stomach. More importantly, I can't keep things in my stomach and let them take forever to digest. As in when performance does not confirm to expectations after having done due diligence before buying the fund.
Regarding FMIMX and TRMCX - they don't hold too much cash. Have to evaluate them differently. SEEDX has never been fully invested. It seems to be trying to lose money "opportunistically" while holding cash. Which is what I want to evaluate, and not just imagine.
So, does anyone know website that charts daily/weekly upside/downside capture? I want to examine how both these funds move compared to their relative indexes. And also make sure I'm not in love with other funds which suck equally.

About SEEDX, I looked into it twice after it was profiled here, but didn't see anything special enough to consider replacing the U.S. funds I usually use - from Parnassus and Jensen. Oakseed returns have been nothing to write home about, and it's not been the best on up-down capture either.
I am generally happy with a fund that I recall you'd held for a while, VF - GAVAX.

Herro gave $3 million of his own money to "Seed" the fund. That actually is what influenced me the most to by SEEDX.
Yes I still own GAVAX but its a different kind of fund. It seems like a good candidate to continuously DCA into - something I've stopped doing since dot com bust. Not that I don't cost average, I just don't do this monthly invest thing regardless of what the market is doing.

About SEEDX, I looked into it twice after it was profiled here, but didn't see anything special enough to consider replacing the U.S. funds I usually use - from Parnassus and Jensen. Oakseed returns have been nothing to write home about, and it's not been the best on up-down capture either.
I am generally happy with a fund that I recall you'd held for a while, VF - GAVAX.

As for SEEDX, it was what I call a good "story" fund. It seemed the managers had great pedigrees and their plan seemed like a winner. There are "story" stocks out there and they are known money pits; I'd venture the same for some new MFs.

SCMFX What is there to like about a fund that has significantly underperformed its category YTD, 1 Yr, 3 YR, and 5 Yr ?? SEEDX isn't much better. One common refrain (excuse) when investors hold underperforming funds is it's for diversification purposes. However, in the spirit of fair disclosure I use to rag on holders of PRPFX a dog of a dog the past many years and now look how superbly it has performed this year. So what do I know? Not much - which is about as much as all the so-called experts out there.

I had exchanged posts with Mr Snowball on SCMFX. It seemed overrated to me. However, I went against my gut and decided to dip my toes in, since I really couldn't find anyone who had anything bad to say about it. Matter of fact, I think everyone is/was in love with this fund. So I had waited to buy it after a correction. And I did buy a minimal position. I got never got comfortable enough to add to it, and I'm glad I didn't over the past several months.
I have serious doubts this fund outperforms SPMIX over any time period of matter. I'm almost 90% I will fire and forget this fund by EOY. Just wanted to ask if anyone has sold this fund or still keeping the faith.
Now, SEEDX. Yet one more fund that is really not doing anything to differentiate itself. Doesn't seem like its cash position if providing any downside protection and it certainly does not look like outperforming VFINX over any time period of matter. Would like to hear from diehard fans of this fund as well.

Interesting thoughts. One thing I've decided for myself is on the thought of manager diversification. To me that is really no different than using an index fund, which I do.
I have 2 SCap funds also, GPGOX hopefully for management alpha, and the russell 2000 index. Same thought for LCaps. I have SEEDX and the S&P500. Simplifies things, reduces expenses and keeps multiple management from equilibrating each other's best and worst ideas - same as an index does.