Lose 72% of your investor’s $, make the cover of Barron’s

It’s Miller Time

I don’t even know what to say.  Wouldn’t a story about AlphaClone be much more interesting?  Like, say, how following Greenlight beats the market by 13% a year?  Active mutual funds are an enormous fail for the investor.

My favorite stat:

CGMFX 10 yr annualized 19.59% returns.  10 yr annualized INVESTOR returns -13.94%!!! (Note: This is Heebner’s fund, not Miller’s, and reflects investors chasing performance buying high and selling low.)


Off to take Momma to this!