Evaluating Managed Funds

[Evan]

[ QUOTE ]
I also know that no fund manager has been able to replicate his success

[/ QUOTE ]
Read his bit about "Graham-and-Doddsville" in the appendix to the Intelligent Investor.

[mwgr5]

I have money invested in FAIRX. It has done very well, great management, nice online interface, and importantly a 1% expense ratio. The only concern I would have is that mid cap in general has had a good run over the past few years, and the area might become out of favor.

[buffett]

[ QUOTE ]
The only concern I would have is that mid cap in general has had a good run over the past few years, and the area might become out of favor.

[/ QUOTE ]
I don't know why you're concerned.

"Fairholme Capital Management, L.L.C. (the “Adviser”) attempts to achieve the Fund’s investment objective by:
• Normally investing at least 75% of the Fund’s total assets in U.S. common stocks without regard to market capitalization;"

-quote from the prospectus

[Mr. Now]

Lowering expenditures and/or raising taxes never works. Everyone complains. It's a total cramp. No one wants the hear the truth or take the bad-tasting medicine. The people would rather be dealt with indirectly....

That leaves debasing the currency as the only viable option. Which is what is going on right now.

I love it when pundits trivialize the indebtedness of the United States. Because that's exactly what everyone wants to hear. It's so reassuring and confirms I dont need to learn jack about money and banking. I can just gas up my SUV and plan my high-consumption vacation.

So I guess I'll just buy the benign "core inflation" rate and believe, when the Treasury and the Fed assure me they support a "strong dollar".

Ignorance is bliss.