Not all of the flaky fund ideas have been washed away by the bear market. Indeed, some claim to be thriving. Case in point is Marketocracy Funds. The fund firm this week marked the one-year anniversary of its Masters 100 Fund by circulating its curriculum vitae to the financial media.

It shows all performance is relative.

The fund lost 8.70 percent in its first 12 months compared to a 16.39 percent loss in the S&P 500 and a 7.39 percent loss in the Dow Jones Industrial Average. Year-to-date the fund has returned ­12.46 percent, compared to ­13.05 percent for the Dow Jones and ­19.85 percent for the S&P 500 Index.

The fund us managed by firm-founder Ken Kam with the help of what he dubbed the m100 team. That team includes the top 100 amateur investors as based on their performance track record managing a model mutual fund portfolio on the Web site.

"Given the tough market conditions we have experienced over the past year, we are pleased with the performance of the Masters 100 Fund, said Kam in a statement. "Although the track record for the Fund is short, we believe that the Fundıs ability to deliver higher return with less risk than the S&P 500 over the last year is an early affirmation that our investment process is working."

Before Marketocracy, Kam was a cofounder of what is now Firsthand Funds.  

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