The Score Board of Gurus

A Better Way to Measure Performances
We believe that the performance over fixed time periods, like the latest 3-year, 5-year and 10-year, might be misleading since a single bad year performance would ruin all. Therefore, we believe the best way to measure funds’ performance is to check the performance number over complete market cycles. According to the annual returns of S&P 500 from 1999 to 2012, we think market peaks appeared at 1999, 2007 and 2012, while market troughs appear at 2002 and 2008. Based on this, we research all the funds’ performance from peak to peak (1999 to 2007, 2007 to 2012, and 1999 to 2012) years and trough to trough years (2002 to 2008). The results are as follows (we ignore the funds which lack at least two years of data in a complete economic cycle). Please note that i=Investment company; m=Mutual Fund company; h=Hedge Fund company; F=Mutual Fund.
Peak to Peak_1999-2007 Annual Return
Peak to Peak_2007-2012 Annual Return
Peak to Peak_1999-2012 Annual Return
Trough to Trough_2002-2008 Annual Return
Percentage of Years When Guru Outperformed the Market (Five-Year Rolling Basis)
Scoreboard Top 10 Guru Holdings Performances (%) Fund Performances (%) since Latest 13F-filing Q/Q Turnover (%) Portfolio
Guru Name Type Since latest 13F-filing Since 6m ago Since 12m ago 1y 5y 10y Since Inception Period Tracked Fund Tracked Value ($Mil) # stocks
Hedge Fund50.3815.824.6300022.19-284467
Hedge Fund42.6545.2530.84-30.30-82.403.402004-2018Greenlight Re111,38220
Mutual Fund35.22-30.50-23.70-32.60-3.908.609.501999-2018Schneider Small Cap Value Fund2836344
Mutual Fund30.29-6.86-11.31-23.20-4.805.407.902000-2018Fairholme Fund03673
Hedge Fund28.9010.500.130000-http://www.georgesoros.com/212,779141
Hedge Fund28.2816.5030.49-1.602.307.1013.602008-2017Pershing Square, L.P.295,9579
-27.4811.6732.1612.2011.608.4012.201995-2017Small-Cap Composite - Daruma1575150
Investment Company25.56-21.30-30.780.700.501.3015.701980-2017Leucadia Corp. Book Value4785246
Mutual Fund25.188.978.18-113.40119.201996-2018Olstein All Cap Value Fund11613112
Hedge Fund24.4813.2518.320000-639529
Hedge Fund23.11-14.89-8.06017.2020.1026.701993-2014Appaloosa Investment LP I121,99222
Mutual Fund22.3621.2731.020211.2012.701989-2011Akre Capital Private Asset Man17,90125
Hedge Fund22.062.6221.35026.60016.10-Icahn Capital820,42618
Mutual Fund20.83-2.56-0.54-14.30512.609.301988-2018Large Cap Value Fund1222,675475
Mutual Fund20.55-7.66-9.65-20.80-0.306.904.801991-2018Third Avenue Value Fund91,23761
Hedge Fund20.5212.6414.19-4.902.1006.302012-2018Gotham Absolute Return Fund366,435965
Hedge Fund20.1711.708.560000-42,62010
Hedge Fund19.71-99.87-99.870000-155531
Mutual Fund19.470.03-3.55-11.204.9010.5071997-2018Nuveen Multi-Manager Large-Cap114,227148
Mutual Fund19.438.1123.39-2.601.7010.2012.801980-2018Sequoia Fund79,08357
Mutual Fund19.031.60-5.94-19.90-2.306.103.702006-2018Wintergreen Fund0935
Investment Company18.97-0.02-3.5624.706.109.4020.801986-2017Fairfax Per Share Book Value21,27033
Hedge Fund18.87-2.45-6.150000-12734110
Mutual Fund18.796.8015.361.775.1046.801997-2015Purisima Total Return (PURIX)673,030821
Hedge Fund18.701.4218.310000-2414,77125
Mutual Fund18.564.7421.51-27.5014.7012.201992-2018Baron Partners Fund419,758369
Mutual Fund18.0010.6110.44-11.500.5010.50111984-2018Weitz Partners Fund112,14779
Hedge Fund17.68-5.12-5.910000-111,96622
Mutual Fund17.65-4.02-3.04-8.503.208.8012.601980-2018First Eagle Global Fund734,590168
Hedge Fund16.722.730.870000-1414352
Hedge Fund16.50-1.25-9.390000-1017,109183
Mutual Fund16.08-1.06-5.04-12.70613.9011.101992-2018Oakmark Fund1215,70256
Investment Company15.97-2.40-0.240000-276818
Mutual Fund15.950.503.70-11.806.8012.3010.501992-2018Davis Financial Fund517,897137
Hedge Fund15.88-9.91-6.140000-82072
Hedge Fund15.85-32.68-30.620000-02304
Mutual Fund15.713.68-2.38-7.107.1013.2012.701980-2018Dodge & Cox Stock FUND10109,147181
Hedge Fund15.47-23.16-25.40013.1012.8001992-2001Baupost Fund1411,12835
Mutual Fund15.43-9.20-14.780000-42,71961
Mutual Fund15.26-0.272.44-13.704.2014.6010.601987-2018Ariel Fund77,176157
40/Page
Total 69