I understand the concerns about Ron's investments in gambling and hotels, etc. It often feels very risky. But, the YTD performance of the fund's top 10 holdings (acc to Yahoo)are not too shabby. If one doesn't like the proclivities of Ron Baron's stock picking style for this fund, there are many other funds. I think Ron is a smart and insightful leader who also hires good people. I am willing to give him some portion of my portfolio with the expectation that he will give me returns far in excess of the S&P 500 or Wilshire 5000 (or is it 7000 now?). Diversify.