MFG in the BUY zone, page-650

What are they doing? They have already made changes to the portfolios and invested directly in other companies.

Given their previous history, they know what makes a good business and if these investments will prove fruitful. In fact, I have been thinking that ultimately they will have a conflict-of-interest where they have to decide to invest directly in a business or invest for the fund portfolios. This is not an issue right now due to the nature of the businesses they have invested in (private) but potentially could be in future. Direct investments hold great promise for the future and are already profitable as reported.

Only silly investors chop and change funds in the short-term. Look at Forager (FOR) as a recent example of a fund that went through a tough time and then turned the ship around rather quickly.

No one could have predicted the Chinese Communist Party shooting themselves in the foot and making China basically uninvestable.

Fund managers do not reveal plans in advance. Doing so would be self-defeating and advantage the competition.

Insert passive aggressive sign off here,

Druffy.