Jump to content

Chou Opportunity Fund (CHOEX) to return fees


mhdousa
 Share

Recommended Posts

Just saw this on Mutual Fund Observer:

Chou has voluntarily decided to waive its entire advisory fee on the Chou Opportunity Fund (CHOEX) beginning on January 1, 2016. In addition, on February 18, 2016 Chou made a voluntary capital contribution to the Opportunity Fund in the amount of $918,468, which approximates the advisory fees retained by Chou with respect the Opportunity Fund last year. Why, you ask? The advisor describes it as “a gesture of goodwill … in recognition of the fund’s underperformance” in 2015. That’s an oblique reference to having lost 22% in 2015 and another 20% in the first two months of 2016.

http://www.mutualfundobserver.com/2016/03/march-1-2016/

Link to comment
Share on other sites

Just saw this on Mutual Fund Observer:

Chou has voluntarily decided to waive its entire advisory fee on the Chou Opportunity Fund (CHOEX) beginning on January 1, 2016. In addition, on February 18, 2016 Chou made a voluntary capital contribution to the Opportunity Fund in the amount of $918,468, which approximates the advisory fees retained by Chou with respect the Opportunity Fund last year. Why, you ask? The advisor describes it as “a gesture of goodwill … in recognition of the fund’s underperformance” in 2015. That’s an oblique reference to having lost 22% in 2015 and another 20% in the first two months of 2016.

http://www.mutualfundobserver.com/2016/03/march-1-2016/

 

Truly respectable, but 20% in the first two months of 2016!?!?? What the hell do these guys own? I'm hugely focused in emerging markets, European financials, and commodities/oil and my performance hasn't even been that bad...and I'm at the epicenter of basically every crisis occurring right now...

Link to comment
Share on other sites

Wow.  I haven't kept up with Mr. Chou's funds, but damn, those losses are now putting his returns well below average.  This past year has been pretty bad for some of the big name value investors.  Really humbling and makes me wonder about my own strategies going forward.

Link to comment
Share on other sites

Wow.  I haven't kept up with Mr. Chou's funds, but damn, those losses are now putting his returns well below average.  This past year has been pretty bad for some of the big name value investors.  Really humbling and makes me wonder about my own strategies going forward.

 

Bad Years for Value investors are good. That's usually a good time time to buy those funds.

Link to comment
Share on other sites

Investing is hard. Outperforming is very hard.

 

I dont think you have met Amazon or Facebook investors. :)

 

Vinod

 

OT.

 

Unfortunately I have. Google, Apple and Netflix investors too. :/

 

Seriously though - (still off topic) - you look at this and say: OMG, this is so simple; it should be so simple; if only I bought any of FAANG 10+ years ago and held... (no really this is OT and should be moved out if we continue this ;)).

Link to comment
Share on other sites

Investing is hard. Outperforming is very hard.

 

I dont think you have met Amazon or Facebook investors. :)

 

Vinod

 

OT.

 

Unfortunately I have. Google, Apple and Netflix investors too. :/

 

Seriously though - (still off topic) - you look at this and say: OMG, this is so simple; it should be so simple; if only I bought any of FAANG 10+ years ago and held... (no really this is OT and should be moved out if we continue this ;)).

 

Google and Apple are the typical buy at fair price and wait for wonderful things to happen type of stocks 10 years ago. Not sure about now.

I've been looking at other asset light high growth stocks but can't find any that justifies the fair price.

 

I still cannot understand NFLX as of today.

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...