Archman Investor

Sequoia Fund Reopens After 26 Years: A Look Inside

archchanceII:

Nope. I am not about to tone back the cynicism and take a more measured approach.
The majority of mutual fund managers are criminals who can only make money in bull markets and who do nothing to preserve a fund holders money in bear markets. There is no excuse as to why these overpaid, educated, MBA types, who all claim to be experts in the field, should lose even close to what the S & P 500 loses in a bear market.

I do not think I am smarter than anyone, Not you, not anyone. I am just a simple, self employed family man. No MBA, and I do not manage money for a living. I invest only in stocks.
My 15 yr annualized portfolio return: +20%
My only losing year: 2002, down -4%
My YTD return: +5%.

Why is it "a nobody" like me, can manage my money, and have the sort of returns that 99.9% of fund managers cannot even come close to attaining? Because I have a true vested interest in managing my money and I do not get paid for it, regardless of how the returns are.

Just ask all the fund holders of the "legendary" Bill Miller how they are feeling today. His fund is exactly where it was back in 1998. I am sure, as he is sailing around in his yacht, counting his hundreds of millions in the bank, he is thinking of all his fund holders...LOL.

Not.