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Royce Value Trust, Inc. Common Message Board

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  • texasbroker2000 texasbroker2000 Dec 11, 2008 5:52 PM Flag

    Why is this up??

    Chuck Royce has been a net seller of the fund since 06. Look at the transactions of his holdings. Royce funds sold to Legg Mason that's a fact.

    If you think Chuck still goes into the office every day and actively manages this fund that's your opinion. I don't and the performance the last two years supports that statement or Chuck has lost his touch.

    Trying to justify RVT's below market performance....

    Plug in the russell 2000 and pull up a chart to's way underperformed since the sale to LM.

    Please refrain from calling me a liar for expressing my opinion and as a holder since 86 I think I have done plenty of research and have a reasonable amount of insight on rvt.

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    • I didn't call you a liar, yet merely suggested that you do your homework before commenting unless you are content to be a liar.

      So to recap:

      Charles Royce is still active portfolio manager, and has not resigned. Secondly, RVT performed fine since being "sold" to Legg Mason. Since you're not prepared to own either one of those false claims, we'll move onto the next ones.

      If you in fact held since 1986, you've outperformed the russell 2000 if you've chosen to reinvest the dividends. Go ahead and plug those numbers in and tell me I'm correct, because I am.

      If Mr. Royce had told you his aim was to run a hedge fund, and not a long only, closed fund, then you'd be right on about the last two years performance. Unlike the Russell 2000 which is an index, RVT is subject to redemptions, and they've happened. You cannot reverse your investment platform, when other people's money is at stake, because you see trouble coming. You can sell your own shares though. It's not illegal, Buffet sells at the top when he can, that's the game champ. Judging by his timing, he's seems to have known what was coming.

      I'm off the opinion we're in a secular bear market, have been since 2000, and will continue to be until 2015 or so. Since the Russell was not created until 1984, there are no charts to show it will not be subject to the same problems that all other markets will be in this secular bear. So assuming it will be subject to the pain, I'll take the dividend reinvestment over the up and down with no gains.

      You're opinions on Mr. Royce's work ethic are silly, and you should rethink putting money anywhere you think someone is phoning it in.

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