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Has anyone investigated the Matthew 25 fund MXXVX ?

Fund is not diversified (can be up to 25% in one company). Per M* the management "team" consists of 1 person.
Their website http://www.matthew25fund.com/m25faq.html is not very informativ e (although they do give the reference to Matthew 25 text at http://www.matthew25fund.com/M25gospel2.pdf)
The fund had a tough time in 2007 (-19%) and 2008 (-40%) but still has good numbers over longer periods.

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