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Reminiscent of Crabbe Huson Special (CHSPX). From NYTimes, quoting Russ Kinnel of M*:
"The Crabbe Huson Special had been a strong performer until 1996, when manager Jim Crabbe started negotiating short positions, an area in which he clearly hasn't shown much ability. He held on to his short positions longer than on to some of his long positions and he chose the wrong stocks. For example, he shorted America Online, Dell and Compaq because he thought they were overpriced. But all three are market leaders, and their shares have continued to rise."
This was in 1998, well before the dotcom bust, otherwise he might have been right on those stocks.
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