MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, April 5, 2010 Star Manager Bruce Berkowitz is Not Star-Struck As part of The Wall Street Journal's Investing in Funds section published Monday, Jonathan Burton has an article on fund managers who make it a point to get acquainted with the CEOs of businesses that they invest in to get a better sense of how the companies are run. Fund managers featured in the piece include Ron Baron, Chuck Akre, David Marcus and Bruce Berkowitz. The article also brought up a potential downside to being close to those in the C-suite and points to the experience of Baron Capital in 2000, when fund shareholders lost around $267 million from a majority stake in Sotheby's. The auction house was caught up in a price-fixing scandal and its stock went south. Looking back at that episode, Baron said: "There were plenty of warning signs. I didn't take heed." Berkowitz said the antidote is to question one's own judgment. "You don't want to be star-struck," he was quoted in the article as saying. Printed from: MFWire.com/story.asp?s=31831 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |