NEW FEATURE: Fund manager update! Today we'll check in on "superstar" MuFu manager Erik Gustafson of the venerable Stein Roe Growth Stock Fund (SRFSX on yer ticker). Now those in the know remember Erik saying he "would buy all the CSCO they would sell him" back in September 2000 (when it was at the bargain price of 54/share). Seems he got the true religion when tech went dumpster diving in Q4 2000 and all of 2001 and all of 2002, so far. So he rotated into non-tech. Lets see what's under the hood, as it were:
biz.yahoo.com
Hmmm, Baxter? JNJ? GE? Yep, "solid" growth companies *almost* guaranteed to do well in any environment...probably a HUGE winner for his prescient, almost telepathic rotation out of tech. Let's see what Mr. Chart says:
finance.yahoo.com
Oh, fudge! Down 59% since 03/31/00!? Quite a haircut! But at least for this *advice*, he can't possibly be raking the funds bagholders....ERRRR, CLIENTS over the coals in fees, could he?
biz.yahoo.com
Yikes! 0.95% of a now-whittled down 479 million NAV? That's only a paltry $4,550,000 for Erik and da boyz for his skillful stewardship of yer now lost loot! WTF, he's only down 17.3% PER YEAR for each of the last 3 years, annualized! Beats being "money on the sidelines", right? Oh well, as they say in Peoria, "Stocks ALWAYS come back sooner or later!"
That's all for today! Join us next week, when we feature
(j)ANUS Twenty (cents-on-the-Dollar) ubermanager Scott Schoelzel |
