I sold out of LLPFX some time ago after holding and accumulating since 1994. First, 2008 performance was dismal and basically wiped out a decade of investing more so than any of my other investments. Second, I did not share the enthusiasm for Dell and wonder why they bought in when admittedly they claimed they did not "understand" technology companies and generally did not invest in them. They should have followed their own advice. Third, they indicate a generally close working relationship with the management in the companies in which they invest. How did they miss the fact that the CEO of Chesapeake was loaning himself a billion dollars from that company's coffers? Where was the due diligence? And then they had to strong arm positions on the board to help protect the investment. Finally, my investment philosophy has changed. I will not invest unless I start receiving immediate return, i.e. dividends. The fund managers have said they do not care for stocks that pay dividends. I am now retired and cannot share the level of risk this fund has demonstrated.