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Post by mrbilbobaggins on Oct 2, 2022 1:09:57 GMT
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Post by retiredat48 on Oct 2, 2022 16:33:29 GMT
Thanks for post. Wow!...I have owned Heebner funds at times in the past. Fun rides!
This info makes me feel old. Oh, forgot, I am old.
R48
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Post by roi2020 on Oct 2, 2022 16:53:18 GMT
I recall Ken Heebner in his heyday. There were many stories about this "star manager" in financial magazines.
Mr. Heebner was quite the gunslinger!
CGM Focus was very volatile and IIRC, short-term performance was often near the top or the bottom of its fund category. |
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Post by yogibearbull on Oct 2, 2022 17:41:20 GMT
www.mutualfundobserver.com/discuss/discussion/comment/154043/#Comment_154043End of an era. LOMMX is among the oldest allocation/balanced funds with inception 11/6/1929. Very ironic that Barron's cover story this week mentions that after historic selloff due to simultaneous stock and bond bear markets, the allocation/balanced funds may be ready to bounce. ybbpersonalfinance.proboards.com/thread/348/barron-october-2022-market-week?page=1&scrollTo=793CGM funds have been led in recent decades by Ken Heebner, the original "Boston Bomber" (now the term has another sad meaning). Heebner got that nickname because if he didn't like a stocks, he would sell millions of shares all at once; the opposite if he liked something. Heebner has a very volatile record with CGMFX. Most bear markets ended when CGM funds started to perk up. I suppose that Heebner (about 80 now) just got tired of it all. I am surprised that the operations are being ceased and no buyer was found to merge the funds.
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