stlplaceLast Updated on February 4, 2010 by stlplace
(Update 04Feb10) Watched the “Outsourced” movie from Netflix on Feb 02 night, quite interesting. It has a similar theme with “Up in the Air”.
(Original) Went to see movie “Up in the Air”. That’s the first time my wife and I went to see a movie. We figured time is running out for us to go cinema in the near future as we expect our new baby this March.
Couple thoughts after seeing the movie:
Last Updated on January 1, 2010 by stlplace
It’s that time again, the end of 2009 (and the decade of 2000s) means we can also look at the performance of mutual funds in past year/decade. The winner of US based mutual fund is CGM Focus fund, managed by Mr. Heebner, the fund’s manager since its 1997 launch. CGM Focus is a large cap growth fund with annualized total return of 18.2% in last 10 years (source: WSJ, Best Stock Fund of the the Decade: CGM Focus). Sounds pretty good, right?
Not really. According to MorningStar in the same article:
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Too bad investors weren’t around to enjoy much of those gains. The typical CGM Focus shareholder lost 11% annually in the 10 years ending Nov. 30, according to investment research firm Morningstar Inc.
These investor returns, also known as dollar-weighted returns, incorporate the effect of cash flowing in and out of the fund as shareholders buy and sell. Investor returns can be lower than mutual-fund total returns because shareholders often buy a fund after it has had a strong run and sell as it hits bottom.
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