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still time to join in on the fun: Bretton Fund (BRTNX) conference call tonight

David_Snowball
edited May 2013 in Fund Discussions
Hi, guys.

Thought I'd remind folks that the call with Steve Dodson of Bretton Fund is this evening, from 7:00 - 8:00 Eastern. I'll follow the usual path: I'll say "hi" for a couple minutes, Steve will take 15-20 to walk through the fund's genesis and strategy, I'll ask questions for 15-20 and then we'll open the lines to listener questions.

Tiny fund, quite concentrated, fairly large cash stake, strong absolute returns since launch, variable relative ones. Steve's an interesting guy - bright, articulate, widely-traveled with broad industry experience. You might enjoy the chance to chat.

It is, as always, free and simple: register through Chorus Call then dial-in on at 800-number this evening.

Too, if you have questions for Steve but won't be able to join in, just let me know and I'll pass them along.

As ever,

David

Comments

  • VintageFreakVintageFreak
    edited May 2013
    I'm vary of very low assets. Just $6M according to M*. Also I hope manager has $1M of his own money in the fund. Wonder why manager not making point of eating his own dog food on the website. Sure fire way of gathering assets IMHO. Unless of course he is eating filet mignon elsewhere.

    Eagerly awaiting transcript.
  • David_Snowball
    Reply to @VintageFreak: Dude, his mother and mother-in-law are both heavily invested in the fund. There's a ... uhh, delightful thought. Thanksgiving dinner with your investors. At one point, he and his family represented 75% of assets. He's well over a million and describes it as being most of his net wealth and all of his equity exposure.

    David
  • VintageFreakVintageFreak
    Reply to @David_Snowball: Hmmm....There is a Jerome Dodson (father?) still running Parnassus. Hopefully AUM increases. I have had two "new" funds shut on me because of low assets. I will keep this under watch just like SEEDX.
  • David_Snowball
    Reply to @VintageFreak: Yep - Jerry is dad. One almost had a sense of a sort of relief in being out of the nest and out of Jerry's shadow.

    It seems to me that these owner-operated funds are rather more tenacious than other small ones. A "family" with no vested interest in one of their small funds is more likely to shut the door (I'm thinking of the recent Scout closures) than an owner is to walk away. I know that Presidio was a counter-example but an odd one: five stars, $70 million in AUM when the manager walked away.

    That said, prudence is always ... uh, prudent!

    Have a great day,

    David
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