He has a long term track record of beating major indices for decades, takes large sector bets that sometimes pay off, sometimes don't, can underperform for several years followed by one or 2 spectacular years.
If you think you can do better, or want to criticize Heebner for being short financials today (though he made gobs more in financials over the past year than anyone who posts on this board, most likely), and want to criticize for a couple weeks, then just sell your shares. Hopefully then CGMFX will close to new investors and keep people like you out, so those of us with patience will continue to make money.
Buy and hold for years, or decades. Don't flip out over daily performance. Looking at daily performance is bad for your financial health. Chances are, you're not emotionally suited for it, and I'll bet the majority of those who signed up for it this year are not emotionally suited for this fund, because they see the annualized returns and see this as some gravy train to riches.
If you're going to whine about 1 day's performance, when this fund returned 1,000% over the last 11 years, just sell out, since you apparently know how to do better.