Thursday, December 11, 2008

More on the CGM Focus record

Following my last post Heebner gets really bullish, I saw that Tim Knight at Slope of Hope questioned Heebner's recent (unfortunate) returns. For the skeptical, you can find the track record for CGM Focus at Morningstar here.

Despite Heebner's high turnover and swing for the fences style, no mutual fund portfolio manager can be day and swing traders like the audience at Slope of Hope. Heebner's batting average is pretty good and his judgement should be respected. He is just one of many respected managers with good track records who have found value in this market.


keithpiccirillo said...

I checked out Tim Knight's professional credentials and was more than a bit disppointed at the disparaging and seemingly flippant remark on Heebner's poor short term performance.
But then again, Knight is a chartist/technician and the double top he sees clearly shows in his mind, how wrong Heebner (and most everyone else) has been and will continue to be.
Better if he had your information on which to make a more reasonable conclusion. That's what I would rather act upon.
Keep up your good work.

Andy Dong said...

I was surprised Tim Kinight only focused on the performance of CGM for the last 18 months. Now knowing him is a chartist.

It comes no surprise. Hindsight is the exact science.

Maybe one should refer to the morningstar hyperlink in the article to see what consistent outformance really means


Cam Hui, CFA said...

Keith -

In defense of Knight, he is short-term oriented. I have known a number of technicians who were hopeless at making short term calls but were invaluable at making long term calls, especially at turning points of the market.