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CGM's Struggles


Parsad
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Ken Heebner's struggles at CGM continue.  What's even more sad is that everytime anyone talks about an underperforming fund manager, poor old Bill Miller's picture is shown instead!  ;D  He's been the whipping boy for underperforming managers the last couple of years.  Take a look at the article:

 

http://www.bloomberg.com/apps/news?pid=20601108&sid=ald5h_nPY5Ro

 

Cheers!

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I like Ken, and remember when he was the talk of the town. Heavy into energy and was the flavor of the month for a while.

 

Bill Miller just rubs me the wrong way for some reason. He seems to be so sure about things he clearly didn't understand and seems more contarian then value focused.

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What's even more sad is that everytime anyone talks about an underperforming fund manager, poor old Bill Miller's picture is shown instead!   ;D 

That's too funny. Miller is wearing an Amazon.com shirt in the picture, though, as if to defend himself somehow. :)

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Bill Miller just rubs me the wrong way for some reason. He seems to be so sure about things he clearly didn't understand and seems more contarian then value focused.

 

I agree.  I consider Bill Miller and Dreman contrarian investors.  Alot of average retail investors mistake contrarian investing with value investing wheras I believe they are completely different. 

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Bill Miller just rubs me the wrong way for some reason. He seems to be so sure about things he clearly didn't understand and seems more contarian then value focused.

 

I agree.  I consider Bill Miller and Dreman contrarian investors.  Alot of average retail investors mistake contrarian investing with value investing wheras I believe they are completely different. 

 

Yep, also what happened to the Blog. You run Top Down right, havent seen any updates in a while.

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  • 9 years later...

CGM Focus has now underperformed the S&P 500 since inception in 1997.

 

In June of 2008, $10,000 invested at inception would be worth about $112,000. So over 10x in less than 11 years...in a mutual fund! The VFIAX (S&P 500) was worth about $17,000. Today, CGMFX is worth about $37,000 vs about $46,000 for VFIAX. Amazing.

 

More evidence that indexing is superior to the vast majority of professional managers.

 

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Wow, how the mighty have fallen.  To think I actually entertained the thought of putting in some money into CGMFX back around 05/06.  But, then I realized there's no way this commodities bull market is going to keep going through the roof.

 

I wonder how Bill Miller's new fund is doing ever since he decided to get back into money management.  Talk about poor timing.

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