Great posts. They reminded me why I got in the fund in the first place and express perfectly just how utterly disappointing the management has been. Hell, I'm stupid enough to ocassionally ride something down to a 90% loss (Tesoro comes to mind) but I really didn't think a guy like Winters was. No shorts, no hedges, no stop losses, no nothing. Just pitiful market performance. I finally turned off the monthly funding spigot yesterday after reading the annual report on Monday. An "I blew it" call somewhere in the report would've gone a long way with me. His video interviews in early 2008 about feeling like a kid in a candy store are almost comical now. Why a guy with a virtual hedge fund charter ran it like his hands were tied and now claims that it was all Mr. Market's fault is borderline embarrassing. I hope he gets his groove back starting TOMORROW.