Heebner Lost in 2008 Too
Michael E. Brisky (January 5th, 2009) Writes:
2008 was a brutal year for pretty much everyone, and some of the top funds were no different. Ken Heebner's CGM Focus Fund (a href="http://finance.yahoo.com/q?s=CGMFX"CGMFX/a), which returned an amazing 80% in 2007, lost 48% in 2008.br /br /span style="font-weight: bold;" class="news_story_title"a href="http://www.bloomberg.com/apps/news?pid=20601213amp;sid=a74xUQYdcxEMamp;refer=home"CGM’s Heebner, Fidelity’s Lange Falter as Markets Claim Victims/a /spanbr /br /Excerpt from Bloomberg article:br /br /span style="font-style: italic; font-weight: bold;"U.S. mutual funds suffered in the /spana style="font-style: italic; font-weight: bold;" href="http://www.blogger.com/apps/quote?ticker=SPX%3AIND" t_above="true" t_static="true" t_fontcolor="#000000" t_fontface="Verdana,sans-serif" t_bgcolor="#ddedd9" t_width="110" t_delay="50"greatest stock decline/aspan style="font-style: italic; font-weight: bold;" since 1937. The economic recession drove down shares of every industry from energy producers and automakers to technology companies and banks./spanbr /br /span style="font-style: italic; font-weight: bold;"Heebner’s fund gained 80 percent in 2007 to beat all peers, largely by buying energy stocks. He was hurt in 2008 after oil prices fell almost three-fourths from a record in July. ...
Tags for this Post:
Bank, bank of america corp, Bank Stocks, bloomberg, Citigroup Inc, energy shares, Energy Markets, energy producers, Energy Stocks, finance, FULL, Ken Heebner, Market Commentary, michael brisky, Oil Prices, Technology, United States
Bank, bank of america corp, Bank Stocks, bloomberg, Citigroup Inc, energy shares, Energy Markets, energy producers, Energy Stocks, finance, FULL, Ken Heebner, Market Commentary, michael brisky, Oil Prices, Technology, United States


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