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Totally inspired by similar post on SFGIX...

I really know how to pick them.

I've gotten back my principal some time back so have been letting this ride. However I have watched my current cost basis of $6000 go to as much as $7700 and now is at $5200 odd. YTD down over 15% YTD.

Now I know Heebner invests on a whim but can't believe he would be so out of step with things. Then I did something I normally don't do with this fund. I looked at the portfolio.

>45% in Emerging Markets as per M*. "WTF" does not begin to explain it.

How many idiots besides me still hold this fund? Please feel free to lie.


  • According to morningstar, the expense ratio of CGMFX is 2.45% and assets are down to $494 million which means that he has been selling a lot. I briefly owned CGMFX in the past but bailed as the fact that he trades a lot was a huge negative. I still own FAIRX as the asset bleeding at FAIRX seems to have stopped. I also owned Third Avenue credit and got stuck holding the bag as everyone else left. I guess Heebner selling equities to meet redemptions is NOT as bad as Third Avenue credit fund having to sell illiquid junk bonds when the redemption calls came. However, when you have a run at at MF, then hedge funds might start shorting those holdings and cause the issues to get worse (although Heebner is in and out all the time so not sure people can short his holdings). Heebner was short treasuries for a while and of course yields on treasuries are still low.
  • edited May 2019
    maybe you and I can go to the same therapist and get a discount as we have owned some bad MFs. Unlike Bill Miller and John Rogers, FAIRX and CGMFX have not done well and continue to underperform the market very badly.
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