A clear sign of a hopeless fund manager is not taking responsibility for their incredibly poor performance.
This report basically reads "Our disappointing performance is due to the economic environment, the rise of ETF, inflation. Anything but our awful stock selection..."
Meanwhile other micro cap managers investing in the same universe have had a tremendous year - Ryder Capital +25% ,WMI +21%, Forager +18%
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A clear sign of a hopeless fund manager is not taking...
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