Monday, August 11, 2008

The Once and Future Heebner

Every time I look up CGMFX's closing price in Yahoo! Finance, I see the same old stories from last month:

Heebner's CGM Continues Winning Ways; Holdings Beat Market Handily in Q2
Ken Heebner: Best Fund Manager Alive?

I'm tired of reading these stories. I'd like to read what Heebner is doing now. So, this evening, I was pleased to see this new post, datelined today:

What's Next for Ken Heebner and CGM?

Wherein, alas, the question is asked, but not answered. Of course, nobody knows what Heebner is up to. But whatever it is, he did it back in June. Probably when we were all sleeping.

All I know is, I bought the fund a few weeks ago at 58.50, watched it flutter briefly up to 61, and then drop like a rock to 48. There was one day when it was down 3.56. But now, it seems to have found purchase somewhere because it's just going down pennies a day.

I figure he's out of that hot commodities trade he was in, since they're still going down and he's not. Something slapped him the day he was down 3.56, but he landed on his feet and appears now to be looking for a place to dig in his heels.

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