At this moment I seem to own this board, so it can act as a diary for my thoughts on this fund and the market in general.

At this moment it has not hurt me to wait. I have watched this newly issued fund for six months, and it has essentiallly stayed in a narrow range near the bottom of it's price since issue.

What will turn it around? The fund seems to have originally been designed for higher flying times, and surely the holdings will have to continue to be adjusted to reflect a recessionary period. Can the manager make the change in outlook needed, and how long of a recessionary period are we looking at?

Much of my faith in the fund would be faith in Julius Baer. The do not have a history of issuing dogs. Given the world economic situation, Julius Baer has been a model of stability so far, but who knows what tomorrow will bring. Are we looking at a 1970's style long term recession, or a "short and deep" ditch which we can ride across and be in for some nice fast returns on the other side?

If anyone wants to join me here and make some "guestimates", I look forward to hearing from you. In the meantime, I will continue to use the board as my investment diary. Thank you. RC