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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Kirk © who wrote (2658)1/1/1999 3:05:00 PM
From: marc ultra  Read Replies (3) of 15132
 
Kirk,re MNMCX fund. I think that's a good issue to raise here as I'm sure a lot of people here including myself own this former microcap fund. I never was impressed with smallcap opportunities and I only recall holding it briefly a few years ago and selling it for a tax loss. I was not aware of this merger of funds, maybe it's in some unopened mail I have but why a fund that has maintained an excellent record via stock picking and careful control of the size of their assets so as not too grow too large to trade in the small and microcap stocks which had been a sales point would merge with a fund that's been a dog except for the usual trumped up early returns a big family can get, can only be a matter of greed by the fund family as you say. I would not be happy with such a merger but I guess I would do the same as Bob which is watch its performance closely and see if it starts to deteriorate at which point I might have to take action. I think I have a pretty big gain in the fund and it's in a taxable account so I'm forced not to act in haste. As to MNGFX Bob has great respect for Roger Honour's long term record but he does hold a fairly high cash position and he's been in some lousy sectors. I dumped this during the year and put the money into TIGEX which as Bob predicted was an outstanding performer and very tax efficient

Marc
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