Ann: FASF Performance Announcement December 2023, page-3

The writing is on the wall. Steve and Forager have betrayed their original value investing ethos, which has led to substandard returns which has resulted in the decision to eventually and FINALLY give investors the opportunity to exit at par.

Despite being sh1thouse money managers, these guys aren't stupid, they know that the redemptions will probably lead to Forager becoming subscale, which will mean that it will no longer be able to pay their inflated salaries. So like smart rats, they are fleeing the sinking ship.

One the one hand I can't really fault their sense of self-preservation, but on the other, that sort of lack of loyalty and lack of willingness to stand by their own investment decisions would mean that I would never advise anyone to let those jokers manage a cent.