, portfolio manager of the Alpine International Real Estate Equity Fund
, is featured Tuesday in the
Wall Street Street Journal Fund Track column
. The fund, which has more than $300 million of assets, was down 71 percent in 2008, compared with a 52 percent slide for the Standard & Poor's Developed Property Index.
"You want to try and stand out in the years when things are really bad, and I wish we did," Lieber told Dow Jones' Dawn Wotapka. The "model worked for 18 years. The 19th year, it didn't work."
Nowadays, Lieber isn't eyeing the U.S., U.K. or Europe for much growth. He is looking at Brazil, China and SIngapore.
So far this year, the fund is down more than 6 percent, while the index lost close to
"We're encouraged," Lieber said. "But we have a long way to go, and no doubt this
is going to be a choppy, volatile year as the market seeks a bottom."
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