Saturday, November 22, 2008

The Professionals?

Feeling mauled by the seemingly undying bear market? The S&P 500 is down -44.4% for the year.

Take a look at the year-to-date performance for some biggest of the big-name investors and consider yourself in good company:

* 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

These results suggest that “a bear market gets everyone” — even Wall Street legends.

The SGM portfolio has gained 40.1% YTD.

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