Major bets on Crown for VG8 and Pinterest for VG1.
Both are turning out to be disasters.
With the markets reaching all time highs, both VGI partners funds are floundering.
I think its fair to say since listing both have been a massive disappointment.
I also think its fair to say that if they weren't closed capital funds - VGI would be facing a rush of redemptions.
Perhaps it's unfair to judge them based on their high conviction plays on Crown and Pinterest... but these aren't run of the mill low cost funds. With performance like this, it is shy impossible to resist the temptation of low cost market trackers.
It is perhaps an opportune time to have another shareholders meeting, as when you combine the ongoing performance with the discount sagas - investors are growing weary. Although, I fear this would only result in the same rehash we are all familiar with.
As for the continual talk of Wilson's WAR fund targeting VG1 - I see this as scant consolation.
Lastly, I haven't seen any improvement in this advertising or engagement strategies. It would obviously be difficult when your are underperforming and charging the highest fees around.
GLTAH
VG1 Price at posting:
$2.24 Sentiment: None Disclosure: Held
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