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> Mr. Fleckenstein is also a Director of Go2Net.
Anybody else see the irony of that? :-)
Too bad old Fleckenbear doesn't make the results of his hedge fund
public. I think it would be very interesting. Somehow I think, if his
results were any good, we would hear about them.
Every time I start thinking the permabears might know what they're
talking about, I like to pull up a chart of another CNBC permabear,
David Tice's Prudent Bear Fund vs. the Dow, the S&P and the Naz, just to
remind myself how "right" they've been in the past. Hard to read the
labels on this one but here's a hint.... BEARX is the blue line. The
"fools" who put $10K in the Naz in late 1996 (BEARX inception) now have
about $33K in their accounts. The "smart people" who put $10K in BEARX
now have about $3K. So, going forward, BEARX is going to have to
outperform the Naz by over 1000% just to catch up. Sheesh, with all the
shorting opportunities over that period, you'd think the guy could do
better than losing 2/3 of his customers' money.
Bottom line, money talks, BS walks.
--
Dennis
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