It's the zero performance baseline that really gets to me.
I also understand why people would be disappointed with their performance. The fact they have completely missed the rebound... only to increase their net long position when it seems the market has flattened... very disappointing.
I am also a holder of Regal... boy have they turned it around. I am still kicking myself for not buying more when it plummeted in March. Talk about a turn around.
I would like to say my disappointment in VGI is unique to this manager. However, I bought into the LSF float... so I understand exactly what it feels like to pay ridiculous fees for absolutely horrible performance.
LSF also has a zero base performance fee. And we all know what happened with LSF.
Pretty much all my money is invested in true active managers (long/short). Have I been rewarded for paying the premium... nope
VG1 Price at posting:
$1.83 Sentiment: None Disclosure: Held
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