Salvation on its way finally!, page-74

We don't actually know at this point how his shorts went. They could have been great, but the longs went down a bit more. I've said before, on balance his stock selection hasn't added or subtracted much in the way of value for years. What annoys me more is the apparent arrogance in;-
1. Charging a performance fee without a high water mark.
2. Investing in overseas stocks that did not have a duel listing on the ASX. This was not permitted in the original prospectus.
3. Having short positions exceeding the 30% limit in the original prospectus.
Correct me if I'm wrong, but I don't recall having being given a say on rescinding 2. and 3.