To All, A few weeks back I was answering a note bragging about performance in one of the goofus PBHG funds. Talk about monkeys with buy buttons. <g>
Anyway, there was a nice piece in The Houston Chronicle today. They got it from Bloomberg, but I couldn't find the page over there to reference it.
PBHG New Opportunities. If you put $10,000 in on December 31, you would have had $13,298 on April 7. However, that $10,000 would be worth $8543 today. Of course, you know me, and I think of all the suckers who put their last week IRA and 401-K money in last Friday, gettin a jump on tax day, or sometime around then. Down 36% in a week. Whoa, daddy, put the margin clerk's number on speed dial. <g> Janus Twenty did not do quite as poorly, but, then, they had not done nearly as well by April 7. But the were still down 15% on the week. And even brain dead Vanguard Index was down 10%.
Anyway, it is nice to see that stupidity does not always pay off for fund managers and fund management companies. |
