Talk about not knowing where the bodies are hidden.
Kevin Landis buried Technology Leaders (TLFQX)
in 2012 and Technology Innovators (TIFQX) (
in 2008), and converted Firsthand's "flagship" fund Technology Value from an OEF (TVFQX) to a CEF (SVVC) in
April 2011.
Aside from TEFQX, these were the three primary OEF technology funds that Kevin Landis managed for Firsthand. Since TVFQX is still going, albeit as a CEF, we can look at that first:
https://mutualfundobserver.com/discuss/discussion/240/did-anything-happen-to-tvfqx-firsthand-technology-value-fundM* page (March 2011) on TVFQX , reporting a 10 year return 7%/yr below category avg.
Over the past five
years (most of the time since the conversion),
SVVC lost an average of more than 1%/yr, despite doubling over the past year.
Technology Leaders lasted through 2011 (a few
years into this past decade). In its last five
years (through 2011, just before it was buried),
its return was -0.57% vs. 4.95% for TEFQX and 2.68% for technology funds (per M*), and -0.33% for VFINX.
In addition to TEFQX, Landis currently runs another OEF technology fund, Firsthand Alternative Energy (ALTEX), with 1,3, 5, and 10 year performance rankings of 98th percentile or worse.
If the idea is not to buy the fund, but to buy the manager in his niche of expertise (here, technology), I don't see how one could consider Landis (as opposed to just one of his funds) to have had a great ten year record.
Jaffe's take on Firsthand funds a bit more than a decade ago was to name the whole family his Stupid Investment of the Week.
https://newsok.com/article/3103075/firsthands-new-fund-more-of-sameMeanwhile, over at Morgan Stanley, Kristian Heugh put up ten
years of sterling returns with Institutional Global Opportunity (MGGPX) as of May 30 (two days before the column). The fund was up 32.6% over the past year, just edging out POAGX at 32.4% for the 8th spot.
Nevertheless, Heugh didn't make the list (nor the amended list the following week). The bigger problem IMHO is that the four funds in the amended list are almost all sector funds (tech, biotech, and healthcare - see a pattern?). Trying to beat the S&P 500 with related sectors that were hot up to now is not my idea of how to build a solid portfolio.
