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To: Wyätt Gwyön who wrote (70506)	9/28/2006 9:53:03 AM
From: loantech	Read Replies (2) \| Respond to of 110194

<i wonder if Fleck's short fund has even made money at all over the past ten years. if he is so smart why doesn't he publish his fund's historical results on his website? > Bingo!

To: Wyätt Gwyön who wrote (70506)	9/28/2006 10:03:49 AM
From: ild	Read Replies (3) \| Respond to of 110194

<<< Arnold Van Den Berg ... is EXTREMELY bullish on US large caps>>> Why large caps? It doesn't make sense to me. I can understand to be bullish/bearish on particular companies or, at least, economic sectors. What does a market capitalization tell you about company's prospects? To me it sounds as Wall Street BS where they just want to manage your money by assigning allocations. About Fleck. He runs mostly short fund, so he's looking for shorting opportunities. AFAIK his fund doesn't have a web site and is not seeking new cash, therefore he doesn't publish any advertisement. Also last decade which witnessed two huge asset bubbles may not be the best time frame to judge mutual fund performance.

To: Wyätt Gwyön who wrote (70506)	9/28/2006 10:20:30 AM
From: Travis_Bickle	Respond to of 110194

When I subscribed to his site he mentioned once that his fund had been among the biggest gainers over the past few years. He is actually pretty conservative in taking positions, much more so than me.

To: Wyätt Gwyön who wrote (70506)	9/28/2006 10:43:17 AM
From: orkrious	Read Replies (1) \| Respond to of 110194

I don't disagree with you about Fleck's bearish anecdotes. I subscribe because it pays to be aware of the ultra-bearish tech side. I also enjoy his writing. I doubt he's made me any money. Regarding performance, only based on my gut feel, I suspect he's done well for his clients, probably as well as most mutual funds. The reason he doesn't post his results on his web site is it's illegal. Hedge funds can't advertise results. You also can't compare his performance to a bear fund like BEARX. BEARX is always fully "invested" in shorts. Fleck often is flat.