BWX is another Montgomery's stock that has been heavily promoted...

BWX is another Montgomery's stock that has been heavily promoted in the past 12 months.

It joins a very long list of Montgomery's top picks that haven't worked out for them.

I am looking forward to know how they are going to explain this latest blunder.

Chances are it will be one of these:
- It's only a small portion of our holdings.
- We already reduced (or even got out completely) just before this release.
- We are going to go back to our calculations and rethink our thesis. (And become very silent afterwards)

With BWX following VTG, ISD, etc. they must be very concerned with the possibility of investors withdrawing funds.

A run on their funds will accelerate the underperformance as they are forced to liquidate positions at the wrong time.