@RELIC, CDM is my worst performing stock as well. I share your sentiments and anyone who has been holding CDM for some time, must also be in the same boat. I think the stock u were thinking about was RAMs (home loans) and it made them into what appears to be a one hit wonder. I don’t think the election outcome would have made any difference to CDM.... ARQ seemed to be quite simply a bad stock pick. I really don’t know what Karl was thinking when a. He picked the stock to start with...... b. Why he let it become such a huge percentage of the portfolio, and c. Why he didn’t follow his well publicised exit strategy of selling by thirds (or at least cutting his losses) seeing (I think) that he had already locked in profits. I wonder how thinly ARQ traded at the time and if there would have been a market for the CDM holding. Either way, the silence is deafening and although Karl may have his reasons, and his excuses, the CDM shareholders have a right to know, and I would have thought, before now. Yes I know that Karl is the biggest shareholder, and he too has lost in the fall of CDM, but he can’t make the fund his own personal plaything and change the rules according to a whim without explanation to the remaining shareholders. If the staged entry and exit was the particular aspect that enabled CDM to achieve sound returns, and that plan is now optional, it makes you wonder where the benefit is, in investing in CDM ?
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