Monday, February 2, 2009

The year of winning dangerously

(Missed this one. h/t Jeff Cooper. Only one fund out of 1700 tracked by Morningstar made money in 2008 ... they only made .4% ... and they made it on the last trading day! - AM)

Wall Street Journal
January 4, 2009

It went down to the wire -- to the final hour of trading in 2008 -- but Tom Forester, manager of the tiny Forester Value Fund, pulled off a rare feat: he posted a positive return for the year.

Granted, his fund, with $50.2 million in assets, advanced just 0.4%. But in a year when the other funds in our Winners' Circle were winners on a relative basis only -- outperforming their peers while saddling investors with negative returns -- Mr. Forester is understandably elated. "My investors and the advisers that bought the fund are easy to pick out -- they are the guys that are smiling at cocktail parties," he says.

Our quarterly Winners' Circle contest highlights the best performers over the preceding 12 months among diversified U.S.-stock funds, using preliminary data from Morningstar Inc. The Chicago firm screens for funds at least three years old and with more than $50 million in assets. That universe currently includes more than 1,700 funds.

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