Top-Performing Funds Won by Losing Less
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Michael B. Orkin says he strives to provide downside protection for his investors at the Caldwell & Orkin Market Opportunity fund. “We say there’s risk in going long and in going short,” he says. CreditErik S. Lesser for The New York Times
If the long bull market didn’t end in the third quarter, it certainly sputtered and coughed. With share prices sagging, even many of the top-performing mutual funds couldn’t eke out gains. They just lost less than most of their peers.
The Vanguard LifeStrategy income fund, an indexed offering, limited its losses by holding a big slug of bonds. By charter, the fund allocates 80 percent of its shareholders’ money to bonds and 20 percent to stocks. It declined, but by just 0.79 percent for the quarter…
Top-Performing Funds Won by Losing Less
