What is Hussmans fund return over the last TWENTY years?
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"The dollar fell and the euro hit a one-year high against the U.S. currency on Thursday after producer prices fell last month". CNBC
yep all us dollar related
anyway i see fisher funds dropping all performance fee's on there funds
Fisher Funds to jettison fees
https://www.goodreturns.co.nz/articl...ison-fees.html
guess they figure they wont be able to beat there benchmark going forward ?
They never have. I analysed their 7 main funds over 10 years, so 70 years combined and they outperformed only 6 years. Every fund had underperformed the market over a decade.
Funny thing is that from here it should be much easier to outperform over the next cycle.
Strongly recommend watching Buffetts recent CNBC interview.
Virtually nobody will outperform Berkshire over the next decade. Not meaning no other companies, I mean investors.
Bought (what some refer to as brought) the Japanese companies at a 14% yield and borrowed at 0.5 to do it.
I agree Berkshire or Buffett will be hard to beat. We try to imitate him(likely in vain) by trying to find undervalued companies and attempt to replicate his temperament. But I think there is one area very few can imitate.
It's when he buys into a company and its get him on a seat at the board. It has been mentioned many times that he doesn't want to control the CEOs actions or day to day operations of the company. But I guess think about the dynamics. You have Buffett on the board that is considered by many people as the greatest capital allocator. He stands right beside the CEO ready and waiting. So you can only imagine the discussions between him and the CEOs. He wont be forcefully, he will simply nudge him/her in the right direction. We can try to be every else that Buffett is great at, but this aspect is difficult to replicate. Undervalued is in the current/past context and we do our best to think it will move towards intrinsic. In alot of cases he has a tangible influence on the companys future. Perhaps that is why is called the oracle (he makes his own miracles) I think he has denied in the past this aspect. But I think it's all part of his humility.
Capital allocation is the downfall of many CEOs, companies and ultimately shareholders. To have Buffett on the board. That can never be underestimated.
Obviously you can tell I'm a Buffett fan.
Another;The Secret Broker;
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