A trio of brand-name PMs' performances are in the cellar this year and The Wall Street Journal
is taking a second look
at why their funds are crashing and burning.
Specifically, the Fairholme Fund[see profile]
has reportedly lost more than 27 percent this year.
's CGM Focus[see profile]
is down more than 22 percent.
's Legg Mason Capital Management Opportunity[see profile]
has dropped almost 35 percent.
All three reportedly own fewer than 50 stocks or have more than half of their assets tied up in their top 10 holdings.
For his part, Heebner isn't losing too much sleep over his performance or his fund's outflow, which is in the neighborhood of some $649 million.
"My job is to manage the fund. I do not talk to investors," he told the pub.
Stay ahead of the news ... Sign up for our email alerts now