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Q&A With Greg Jackson, Co-Manager, Oakseed Opportunity Fund
I think the most compelling thing I've ever read about a fund is that David Herro has $3 Million in it and that its not David Herro's fund. Everybody eats their own cooking, but I think I'm smart too.
Hmm...I've been holding off on buying SEEDX. It perfectly meets my criteria for moving my portfolio to all go anywhere funds. For some reason, my gut has told me to hold off on this fund. However, I will seriously re-examine my decision.
I think exiting CGMFX whose manager is 70+ and going with younger managers might be most prudent. Speaking of which Akre is not getting any younger. Unfortunately, we have to worry about such things.
One stupid question. If HERRO has $3M in SEEDX, how much does he have in his own funds. I mean SAIs don't disclose exact amount, just "over $1M". What I really want to know is if HERRO is investing his own money in a more nimble fund while not in his own bloated funds.
Sorry, don't want to piss anyone off. I'm just a cynical quickly-getting-old bast***
David Herro's investment is noteworthy. But remember, Herro manages the "international" funds at Oakmark, whereas, Oakseed fund consists of mostly US equities (and the foreign stocks are ADRs). Still, Oakseed is worth watching.
Reply to @OregonDan: Well, then Herro is saying he doesn't have faith in domestic managers @ Oakmark. He runs OAKWX with Nygren for god's sake. Why not invest $6M there?
Reply to @VintageFreak. I expect Herro has quite a bit invested in several Oakmark funds. He no doubt found he liked in Jackson & Park and wanted to help them get their project off the ground. Oakseed's June report shows that the fund started with net assets of $3 million -- the seed money came from the Oak.
Reply to @OregonDan: I agree it is more friendship favor. If it was not within that framework, I think it would be inappropriate for a fund manager to list the names of the people investing in the fund. It is an attempt to use David's name to gather assets.
Comments
I think exiting CGMFX whose manager is 70+ and going with younger managers might be most prudent. Speaking of which Akre is not getting any younger. Unfortunately, we have to worry about such things.
One stupid question. If HERRO has $3M in SEEDX, how much does he have in his own funds. I mean SAIs don't disclose exact amount, just "over $1M". What I really want to know is if HERRO is investing his own money in a more nimble fund while not in his own bloated funds.
Sorry, don't want to piss anyone off. I'm just a cynical quickly-getting-old bast***
Hard to believe P/E is 3.91 yet in style box is putting it growth leaning...
Oak + Seed. Seriously.