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13 Fund Managers Who Lost Among the Most Money

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Fairholme (FAIRX)

Fund profile: Managed by Bruce Berkowitz, the fund is known for its concentrated bets as it holds only 19 stocks. It has a 76% sector bet on financials. Its poor performance has resulted in a 55% decline in its asset base this year.

Performance: down 30.6%, dead last in the large-value category, with a return that is 27 percentage points below the category average. Over three years it has an average annual return of 8.4%.

Assets: $8 billion

Worst picks: American International Group (AIG - Get Report), the largest holding at 22% of the fund, down 53%; Sears Holdings (SHLD), 8% of fund, down 27%; Citigroup (C - Get Report), 5% of the fund, down 43%.

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Janus Overseas (JDIAX)

Fund profile: Manager Brent Lynn has a reputation as a risk taker and is willing to bet on stocks of any market value and in any market worldwide, giving the portfolio a mix of foreign and domestic stocks. But this year most of those wagers have turned against him. He took sole control of the fund in June 2003.

Performance: down 32%, putting it in the 98th percentile in its foreign large-growth category, 18 percentage points worse than its category average. Over the past three years it has an average annual return of 14%.

Assets: $8.8 billion

Worst picks: Li & Fung(Hong Kong Exchange), 8% of the fund, down 32%; Ford (F - Get Report), 4% of the fund, down 37%; Delta Air Lines (DAL), 4% of the fund, down 37%.
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
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AIG $57.86 -0.72%
BAC $15.73 0.25%
C $51.31 0.29%
F $14.39 1.40%
JPM $62.14 0.19%


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