Clusterfuck

The morons over at Clusterstock, post "Famous Bear Fund Has Lost All Its Gains From The Crisis." Apparently, the alleged business reporter Joe Weisenthal of apparent "Dealbreaker" fame, doesn't even know how mutual funds work.* Joe forgot the part about mutual funds being required to pay capital gains at the end of the year.

While Tice's predictions about broad market indexes have been far from accurate, he and current manager Doug Noland have amassed an impressive track record for a short bias manager. If Federated was smart enough to pair Noland with a strong long only manger they would have quite a product on their hands.

Trailing Total Returns	through 06-08-09

	Total Return %	+/- ML USD LIBOR 3 Mon CM	+/- S&P 500 TR	% Rank in Cat
1-Day	0.00	0.00	0.08	83
1-Week	-0.32	-0.33	0.01	57
1-Month	-0.94	-1.07	-2.30	18
3-Month	-19.90	-20.32	-58.20	19
Year-to-date	-5.53	-6.21	-10.80	24
1-Year	19.46	16.82	48.56	10
3-Year Annualized	10.04	5.64	17.31	2
5-Year Annualized	7.61	3.77	9.46	1
10-Yr Annualized*	9.38	5.62	11.09	1
*Data through 05-31-09

*I guess the quality of the blogging shouldn't be shocking as the CEO (really?) of the blog is none other than Henry Blodget former ML analyst of securities fraud fame (and now EMH supporter).