WNMLA,
Maybe I am too cynical.
First, if management had shareholders in mind the stock wouldn't be languishing at discounts to cash and book for so long. The one big run-up was not management-driven in my mind, but due to the gold run-up (since the fund manages a gold mutual fund). I think WNMLA should be using its cash hoard to buy back stock or just take the darn company private and put shareholders out of their misery.
Second, this company manages small, junky funds like MIDSX, MISEX, and GIF that have huge expense ratios and seem to have little reason for existence. For example, MISEX has a huge 3.67% expense ratio and a significantly negative five-year return. IMO that fund should be put out of its misery as well ...
Again, maybe I am too cynical, but my view is that management cares about itself, not its its shareholders.
MC |
