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<title><![CDATA[Marketocracy Masters 100]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/forumview?bn=46133</link>
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<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/forumview?bn=46133</link>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=10&amp;tof=1&amp;off=1</link>
<description><![CDATA[Okay - I'll counter that.

I believe that the cream floats to the top and if the fund is managed with best-of-best stocks and cycling out of losers, then, it should be able to do this with 1,000s - if not merely 100s of 'experts'.

Think about diversification.   How many stocks do you really need to diversify?   The answer is probably close to 20 or 30.

I look for this fund to beat the market in good years and bad years.   It has, if I'm not mistaken.

Oh well, put a couple thousand in the other day and we'll see where it goes in 20 years.

Good luck.]]></description>
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<pubDate>Wed, 23 Apr 2008 22:27:24 GMT</pubDate>
<author><![CDATA[chrisanja]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=9&amp;tof=2&amp;off=1</link>
<description><![CDATA[Now might be a very good time to buy.]]></description>
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<pubDate>Sat, 18 Aug 2007 01:49:46 GMT</pubDate>
<author><![CDATA[aazzar543]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=8&amp;tof=3&amp;off=1</link>
<description><![CDATA[Performance has been a lot better (and more consistent) as of late. Something worth considering.]]></description>
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<pubDate>Thu, 19 Jul 2007 12:46:41 GMT</pubDate>
<author><![CDATA[lauranatalie]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=7&amp;tof=4&amp;off=1</link>
<description><![CDATA[The original theory behind Marketocracy was nice.   However, for the past couple of years the company hasn't been following that theory.   For the most part the user base has dried up and there are nowhere near 60,000 people actively managing their funds.   If there were millions of funds competing for the top 100 spot, I believe MOFQX would be a very good fund.   However, with only a few thousand users, the talent pool is rather shallow.]]></description>
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<pubDate>Wed, 23 Apr 2008 22:27:23 GMT</pubDate>
<author><![CDATA[antijava]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=6&amp;tof=5&amp;off=1</link>
<description><![CDATA['can't say I am an expert. . . I simply put equal amounts into MUHLX and MOFQX over the past year. MOFQX outperformed MUHLX. 11.88% vs. 0% overall return. Could the period be unique? Yes. 'but it's hard to argue with the numbers. Has Muhlenkamp done better in the past, or over a 5 year period? Yes. Is Marketocracy better at this time. Absolutely. My action is to sell Muhlenkamp and hold Marketocracy . . .maybe add a bit. There are too many opportunities in this market to have money sitting on the bench . . . like CIBCX if the yield inversion makes you nervous.

-ap]]></description>
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<pubDate>Wed, 14 Feb 2007 16:19:34 GMT</pubDate>
<author><![CDATA[k3xf]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=5&amp;tof=6&amp;off=1</link>
<description><![CDATA[The performance of this fund seems to be very erratic. Good 5 year return with not only enormous volatility, but also 2 years down. 2002 makes sense (it was a bear) but 2004 had a huge down run despite the market being a bull market.   This is scary stuff.

According to Morningstar it has a below average risk adjusted rating:
<a href=http://finance.yahoo.com/q/pm?s=MOFQX>http://finance.yahoo.com/q/pm?s=MOFQX</a>

Some more detail here:
<a href=http://finance.yahoo.com/q/rk?s=MOFQX>http://finance.yahoo.com/q/rk?s=MOFQX</a>

Essentially it is a very high beta (1.64 !)fund with negative alpha (-8.50%).   in other words, you're assuming too much risk for under-par returns. All in all, not worth the trouble.

Don't get me wrong: if you look carefully at the best investors on marketocracy M100, you CAN find a few that are indeed amazing investors. The problem is that I could find about 5 (out of a 100) with a record long enough and enough consistency/stability to make me happy if they managed my money.   Most of the m100 seem to be lucky strike, high-stake bets, momentum chasers with too much volatility in their portfolios.   As long as the bull market is in force, many of them seem to be doing well, but watch out for any correction or bear market and that temporary "out-performance" (not really, outperformance, more like leverage of beta) may disappear in a heartbeat.]]></description>
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<pubDate>Wed, 14 Feb 2007 16:19:34 GMT</pubDate>
<author><![CDATA[]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=4&amp;tof=7&amp;off=1</link>
<description><![CDATA[I believe that the MOFQX used to mirror the holdings of individual investor’s that they dubbed to be the top amateurs.   However, because of underperformance, they seem to have gotten away from this as when you look at the top ten (or top twenty-five holdings) in the MOFQX it bears virtually no resemblance to the top ten holdings (or positions) in the M100.    You can see this data the Marketocracy site, but I believe that you may have to sign up to view.

I think the problem they found with amateurs is that to get noticed by their system they needed to outperform for a year or two.   However, just like the real world of mutual funds, the one to two year outperformers turn out to be the dog the following year.   So, from what I gather, Ken Kam, who is the “manager” here, goes with what he likes (Elan, is MOFQX’s top holding, which he has frequently promoted), and the other holdings is partly based on what he likes, and partly based on research that he garners from the amateur investors that have the top funds.   For all of this, the fund fees are generally high (2%), not tax efficient (high turnover), and generally an underperformer.

Perhaps the most discouraging thing here is to read the public forums on Marketocracy.   You would think that these people would be focused on investing, individual stock research, and discussing things that make an individual investor successful.   However, Marketocracy forums are even a bigger joke than Yahoo forums(hard to imagine, but true), as they are dominated by political drivel, an occasional penny stock pumper (which on one occasion resulted in individual members accusing one another of being a pumper), or complete silliness.]]></description>
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<pubDate>Mon, 26 Feb 2007 00:25:22 GMT</pubDate>
<author><![CDATA[ss53001]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=3&amp;tof=8&amp;off=1</link>
<description><![CDATA[I'm in the same boat as you guys. It sounds good in theory:
"Marketocracy.com tracks more than 60,000 stock portfolios that are run by amateur investors. Of those, the top 100 performing portfolios, the M100, are mirrored in a real-life mutual fund, the Masters 100 Fund (MOFQX)."

But the track record over the last few years isn't as stellar as I would expect. I don't know if it's because this fund tends to do excessive buying and selling or if the consensus of a bunch of amateurs isn't as good as the "pros."]]></description>
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<pubDate>Sun, 11 Feb 2007 15:14:05 GMT</pubDate>
<author><![CDATA[mcfilms]]></author>
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<title><![CDATA[Re: anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=2&amp;tof=9&amp;off=1</link>
<description><![CDATA[I'm thinking of doing it. Any suggestions?
Thanks.]]></description>
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<pubDate>Wed, 07 Feb 2007 01:18:42 GMT</pubDate>
<author><![CDATA[pick_macabi]]></author>
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<title><![CDATA[anyone else own this fund?]]></title>
<link>http://messages.finance.yahoo.com/Mutual_Funds_%28A_to_Z%29/Mutual_Funds_M/threadview?m=tm&amp;bn=46133&amp;tid=1&amp;mid=1&amp;tof=10&amp;off=1</link>
<description><![CDATA[Potential?]]></description>
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<pubDate>Wed, 23 Apr 2008 22:27:23 GMT</pubDate>
<author><![CDATA[WHOB007]]></author>
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