Your FGG point is nonsensical and moot 'he likes to pretend he manages the whole fund (he doesn't BTW, but he does advertise it because he is passionate) so I'll apply the entire funds performance to him'. No one without a huge chip on their shoulder would dream of trying to make that argument.
Returns for WLE's first year have been reasonable (I'll conceed they haven't shit the lights out) for a first year fund. The discount to NTA is due to the potential dilution due to the WLEO options being in the money. The fact that they're in the money supports the fund has actually created wealth for its holders.
HHV Fin Review article, page-13
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