Good question, Tony. It would be easier for me to analyze if I could see their portfolio composition and trades in real time. One thing I don't know anything about is how much cash they are holding, that will be a key metric to look out for when comparing WWWFX's underperformance to many other Net funds.
And lately, the Net stock market is only going upwards, and WWWFX is lagging behind almost everyday the nets are up, though loses the least when nets are down.
Keep in mind that WWWFX has greatly expanded their telecom focus, which doesn't move totally in tandem with the Nets. Eight on the top 25 list right now look like telecom plays, including 3 of the top 4 (the other, Liberty Media, has maybe a bit of dependence on telecomm too). And the new team's emphasis on companies with strong balance sheets rules out many of the high-flying Net stocks Jacob favored.
So, I can't see how much cash they are holding, or if they still hold 40-60 stocks in their portfolio (which can add up to a lot, beyond the top 25 list we can see).
At least I know what's in my portfolio: CTXS, USIX, EBAY, INSP, INKT, PKTR, Softbank, TIFQX, maybe next BLSW. + I have lots of cash in money market and interest checking to prepare for the worst (maybe it's time to buy ISDEX puts too).
- Netconductor.com
>>Tony wrote:
Hey Net, or anybody, why has this puppy been so sick for soo long. The rest of the INETs are flying and this one
is just creeping by. Is there a fundamental reason or is it just a stroke of bad ideas since the J man left? Tony |
