Barons Partners was excellent until "anni horrible" 2008 (-50%) Until then it was acceptable to pay high management fees (2%)but learning about the purchase of a $110,000,000 home bothers me: my $3,000 "annual" fee towards an inflated home on Long Island! Not.
This mutual fund got a public attention because it was recommended by the radio host Bob Brinker. Since then Ron Barron showed the worst performance with the mutual fund, every radio listener who followed Brinker's advice lost their shirt, and Brinker got kicked out of the radio. Go figure.
I got out and invested the same in Matthews China fund, it has recovered nicely. I think Mutual funds take too long to recover, buying individual stocks has been a better approach for getting back my money. All these funds are just a modified index fund, safer to buy the index.
I'm holding just like most of you. As many of you state, the performance of this fund in the last 12 months has been extremely poor compared to the other funds & stocks that I own. With the high fees, I think its time to move to any other fund. The market still has some upward movement. I'm waiting for a market correction, then I'll move.
Any one knows what the total investment in this funds was in 2006 and how the trend has been since then, specially in last one year??
What the total investment today? 1.3B says yahoo finance. I bet the losses have been heavy and on top "we" will be paying capital gains on equity sold (even though I have NET LOSS!!!!!!!!!)
This is crazy - is it time to get out in BPTRX or stay put?
Need help and expert guidance.
In a nutshell it is the old "buyer beware". Baron needs the money more than you. His news letter is pathetic. I don't know how Fidelity Investments got in bed with this guy.
His funds in 2006 were valued at $16 billion and Baron is famed for a lavish lifestyle and shareholder meetings which feature rock acts such as Elton John, the Beach Boys and Lionel Richie.
In 2007 he paid $103 million for a house in East Hampton, New York -- the most ever paid for a residential property at that time -- from Adelaide de Menil, heiress to the Schlumberger fortune. de Menil's house had been built by piecing together historic East Hampton buildings that she moved to the property to protect them from demolition. Prior to the close of the sale de Menil broke up the structures and moved them to various locations in the town for protection including six that were moved a mile north to where they will form the new campus of the East Hampton Town government. Baron is now completing a new 28,000-square-foot (2,600 m2) house, designed by Hart Howerton, a New York architectural firm with several other projects in the Hamptons, which specializes in large-scale land use. The house was included in a recent Vanity Fair article on out-sized building projects in the famous summer resort community.
His stocks have had some notable stumbles including in 2003 when he and his company paid $2.7 million to settle a Securities and Exchange Commission complaint that they had attempted to improve the stock price of Southern Union Company by buying shares of the stock just before the bell in the 10 days prior to its merger with Pennsylvania Enterprises (a practice referred to as "making the close").
The company, which owned 59% of Sotheby's Class A stock, lost nearly $267 million when Sotheby's was accused of collusion with Christie's in 2000.
If I performed like these clowns I'd be living under a bridge.
They've made money based on bringing it in - from investors. Not expanding it - through good investments.
It's stunning that they have performed twice as bad as the general market. I can't believe that I trusted these guys with my money. I could've done (and have) far better than they have.
Have any of these bozo's lost their jobs over this?
real sad, they have the fredom to short and hedge, and they sat on their heads all the way down. no better than a monkey playing with himself.
Down another 11% this year even though the fund is allowed to short. Baron's should give back our fee they didn't earn it
How many equities take a 2% management fee? These managers should refund ALL of the fees they have ever Collected, return all the funds, and plead for mercy....
The fund is down 48%, yet at the last investors gathering he had actors and rock stars. He thinks he's a rock star and is dazzeling us with his friends. They say the goal is to double every 5 years The fee is 1.31%
do the math who is making money.
How much did you lose in this fund.