Performance

From this article comes 2008 performance numbers of some very well known names:

Warren Buffett (Berkshire Hathaway): -43%
Ken Hebner (CMG Focus Fund) -56%
Harry Lange (Fidelity Magellan): -59%
Bill Miller (Legg Mason Value Trust) -50%
Ken Griffin (Citadel): -44%
Carl Icahn (Icahn Enterprises): -81%
T. Boone Pickens: Down $2 billion since July
Kirk Kerkorian: Down $693 million on his Ford shares alone

Many of these men have made fortunes, but it just comes down to what type of trading strategy you want, and how long you have to wait. The next time I hear someone blab about trend following drawdowns, if these numbers don’t knock the silliness out of them, perhaps a right hook will!

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12 thoughts on “Performance

  1. I’m glad I pulled my 401K money away from the company that was managing it(?) and I am now self-directing my retirement account. I am in cash right now looking for the next trend.

    What are the chances of a Trend Following blog where we can share what is working and what isn’t?

  2. Surprisingly, it seems to be a good period for those trend followers as the trend seems to be quite clear for the past few months without much noises! Apart from Mr Buffet with his value investing, it does looks like the above did not represent any trend followers.

  3. I second that query about Jim simons, by Joe.

    Does anyone have some performance data for Jim Simons?

  4. I think it’s important to remember what Michael said about the strategy you want. I have a strong aversion to jumping on the condemnation bandwagon when it comes to comparing myself to someone like Buffett, who I don’t think is primarily a trader – seems like most of his money came from investing.

  5. Where did you get the 43% for buffett? There is nothing about that on the article

    > Topping that list is Buffett, who has seen the value of equity in his company, Berkshire Hathaway, fall by about $13.6 billion, or 22 percent, so far this year, to leave his holdings valued at $48.1 billion.

    Looks like typical bs post by [Covel] who is too lazy to look the actual numbers.

  6. I understand you want to criticize me, but please go pull the data for Buffett and crunch the numbers. His drawdown well exceeded 40%.

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