I feel like an idiot. Less than two months ago, I wrote a piece saying this was a perfect time to invest in Clipper fund (CFIMX) or Clipper All Equity, a new fund the firm planned to launch. Clipper has a long and stellar record -- but has stumbled badly the last three years. The fund was due to bounce back, I reasoned.
Boy was I wrong. Last week Clipper's three senior managers -- each with 20 years or more running the fund -- announced they're calling it quits at the end of the year. The new fund may well not be launched at all.
My advice now: Sell.
http://www.kiplinger.com/personalfinance/columns/value/archive/2005/va1004.htm
by Steven Goldberg
Boy was I wrong. Last week Clipper's three senior managers -- each with 20 years or more running the fund -- announced they're calling it quits at the end of the year. The new fund may well not be launched at all.
My advice now: Sell.
http://www.kiplinger.com/personalfinance/columns/value/archive/2005/va1004.htm
by Steven Goldberg
