Ken Heebner: Best Fund Manager Alive?
Interestingly, U.S. Steel, Petrobras, Freeport McMoRan and Potash of Saskatchewan are also among the top holdings of another fund that can legitimately reside in the same universe as CGMFX. The Quaker Strategic Growth Fund (QUAGX) placed first among diversified equity funds over the past 10 years in risk-adjusted performance, as measured by its Sharpe Ratio. CGMFX ended in 12th by the Sharpe measure for that period.
Investors attracted to CGMFX, or any of the CGM funds, are -- as with all funds -- cautioned not to ignore the warnings on its filings that "past performance is not necessarily indicative of future results." Also, Heebner's remarkable performance at CGMFX started in the year 2000, meaning his tenure as a superstar manager is not yet nine years old.While successful fund managers are susceptible to slumps at any time, some hot streaks have lasted well past the decade mark. Bill Miller's remarkable record at the Legg Mason Value Trust (LMVTX) of annually besting the S&P 500's performance lasted for 14 seasons. Over a similar number of years, Peter Lynch grew the Fidelity Magellan Fund (FMAGX) from $18 million in assets in 1977 to $14 billion when he left the helm in 1990. Sir John Templeton, who died earlier this month, achieved lucrative gains in global investments for decades beginning in the mid 1950s. So while there is always the chance that Heebner's fame might prove ephemeral, the possibility remains that his portfolio management skill might also steer the CGM funds to even further greatness.
|CGM FOCUS FUND: A REMARKABLE RECORD|
|PERIOD||CGM FOCUS FUND TOTAL RET'N (%) *||CGM FOCUS'S RANKING & NO. OF FUNDS RANKED||"BEST OF THE REST" - NAME, TICKER & TheStreet.com RATINGS GRADE OF HIGHEST RANKING FUND OTHER THAN CGM FOCUS FUND||"BEST OF THE REST'S" RANKING||"BEST OF THE REST'S" TOTAL RET'N (%) *|
|Last 3 Mos.||27.01||1 / 3344||Eaton Vance Tax Mgd SmCap Gr A (ETMGX) A+||2||19.28|
|Yr. to Date||17.09||2 / 3271||Leuthold Grizzly Short Fund (GRZZX) B||1||29.82|
|Last 12 Mos.||70.87||1 / 3158||Leuthold Grizzly Short Fund (GRZZX) B||2||46.30|
|Last 3 Years||38.74||1 / 2603||Ivy Fund-Asset Strategy A (WASAX) A+||2||20.13|
|Last 5 Years||35.41||1 / 2163||Pacific Advisors Small Cap A (PASMX) B+||2||24.96|
|Last 10 Years||26.34||1 / 1380||Turner Emerging Growth Fund (TMCGX) B||2||24.18|
|Cal. 2007||79.92||1 / 3079||American Century Leg Foc Lg Cp Inv (ACFOX) U||2||46.81|
|Cal. 2006||14.95||959 / 2779||Pacific Advisors Small Cap A (PASMX) B+||1||35.05|
|Cal. 2005||25.32||2 / 2500||Hennessy Focus 30 Fund (HFTFX) C+||1||32.74|
|Cal. 2004||12.33||1028 / 2291||Bruce Fund (BRUFX) C||1||56.26|
|Cal. 2003||66.46||33 / 2110||Apex Mid-Cap Growth Fund (BMCGX) D+||1||165.28|
|Cal. 2002||-17.79||856 / 1969||Prudent Bear Fd (BEARX) A+||1||62.87|
|Cal. 2001||47.65||2 / 1803||Wasatch Micro Cap Fund (WMICX) E-||1||49.99|
|Cal. 2000||53.93||2 / 1616||Robeco Boston Ptrs Lg/Sh Equit Inv (BPLEX) C-||1||59.87|
|Cal. 1999||8.45||1080 / 1474||Van Wagoner Emerging Growth Fund (VWEGX) E-||1||291.15|
|Cal. 1998||3.52||1038 / 1311||Berkshire Focus Fund (BFOCX) C||1||103.96|
|"RISK-ADJUSTED" INVESTMENT RETURNS (SHARPE RATIOS)|
|Last 12 Mos.||2.54||1 / 3158||Caldwell & Orkin Mkt Opportunity (COAGX) A+||2||2.19|
|Last 3 Years||1.51||3 / 2603||Ivy Fund-Asset Strategy A (WASAX) A+||1||1.79|
|Last 5 Years||1.48||1 / 2163||Ivy Fund-Asset Strategy A (WASAX) A+||2||1.48|
|Last 10 Years||0.74||12 / 1380||Quaker Strategic Growth A (QUAGX) A||1||0.95|
|* Annualized returns for periods more than a year.
Source: TheStreet.com Ratings - Data as of 6/30/2007.
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