Nobody who's following (Steadman) even with cursory diligence would have stayed with the funds, ... No-Load Fund Investor.
Over the long run, they go up as far as growth stocks or growth funds, but they tend to do it with a little smoother ride, you don't have quite the same dips and valleys with the value.
To me, it's more significant that he's in the lower rankings of performance for large blend funds, ... It's more fair to benchmark a fund to that fund's category, not an index.
The market is so efficient that the performance of a fund is determined by the niche it's in rather than who's managing it,
If you have a long-term horizon, ... you can ride out any bear market and invest in standard growth funds.
If you're in your 20s, then you can be pretty aggressive, ... But if you're in the stage of life where you don't have many earning years left, there's a lot to commend in this portfolio.
Miller has an expansive view of value, to say the least.
Managers aren't doing the wrong things - the market has changed. I don't care how good a manager is - if the trend changes, he's going to look bad.
Nobody really wanted to come out with an index fund.
Nobody is going to be perfect. I would not a sell a fund with a good record just because it missed a hot sector.