Another famed value investor closing his fund. David Winters.

[Scataphagos]

Yes, but there's not much the fund managers can do...

Ditto. Which is why I've often said, "All you have to do for the market to knock you on your ass... is keep doing what you've always done that made you successful before". IOW... to be a big winner in the markets, you need flexible thinking and action.... and that's in short supply.

Not knocking anybody.... just saying, "it's more difficult than it seems".

 

[helpme_please]

Yes, but there's not much the fund managers can do...

Fund managers have a huge edge over retail investors to become rich. Fund managers make money off their investors in the form of management fees even when they have a down year. Retail investors lose money in a down year because they're managing their own money. I believe David Winters is pretty rich despite his dismal investment track record.

 

[dozu888]

'value investing' in the traditional sense, has been long dead.

in Warren's days, there were edges to be found, with pains taking research.

today any 3rd grader can plug in some parameters into portfolio123.com and come up with a bunch of value systems that will perform just as well or poor as these 'famed managers'.

plus we are in the age, proven by amzn, that the name of the game is to burn all the cash you can find to dominate the market share.

there is value inter-asset class, like I said stocks are dirt cheap forward yielding 5.x% while the 10 year is at 2.5%

but intra-asset class, there is no more value... everything has been mined thru and thru to make sure there is no more free lunch for anybody.

 

[Scataphagos]

Fund managers have a huge edge over retail investors to become rich. Fund managers make money off their investors in the form of management fees even when they have a down year.

Well... there's also the notion that to become a fund manager of any sort and attract capital to earn fees, you probably need to have accomplished something in the past to have a track record. Problem is.... tough to maintain over time as the market changes.

 

[destriero]

He was a listed (fund) manager. It was a tiny fund. Yawn.

 

[helpme_please]

Well... there's also the notion that to become a fund manager of any sort and attract capital to earn fees, you probably need to have accomplished something in the past to have a track record. Problem is.... tough to maintain over time as the market changes.

True. NO investor will put money into a fund manager who has no outstanding track record first.

 

[Scataphagos]

True. NO investor will put money into a fund manager who has no outstanding track record first.

I know of this first hand.

When I was trying to make my name in the mutual fund timing business, nobody believed in me until my results were published... not just once, but multiple times over THREE years... in IBD and Barrons!

 

[destriero]

I know of this first hand.

When I was trying to make my name in the mutual fund timing business, nobody believed in me until my results were published... not just once, but multiple times over THREE years... in IBD and Barrons!

Sure, Mr. Mitty.

 

[Scataphagos]

Sure, Mr. Mitty.

UP YOURS, FUCKWAD! My results are a matter of public record if you care to check. (That is if you can pull yourself away from playing video games in your mom's basement long enough.)

You're such an ASS... no wonder so many say they have you "on ignore".

I haven't put you on ignore yet, as I find your posts to be comically stupid. Please, keep the laughs rolling!

 

[destriero]

UP YOURS, FUCKWAD! My results are a matter of public record if you care to check.

(You're such an ASS... no wonder so many say they have you "on ignore").

I haven't put you on ignore yet, as I find your posts to be comically stupid. Please, keep the laughs rolling!

Yeah, please hold... yup, nothing.