What do John Connor, Bruce R. Berkowitz, Kenneth Heebner, Daniel B. LeVan and Thomas Callan have in common? They top the chart for the annual Barron's/ValueLine equity mutual-fund survey in the 2006 edition. On a risk adjusted basis these gentlemen added the most value to their mutual-funds of any manager qualifying to be considered.
These men run the Third Millennium Russia, the Fairholme Fund, the CGM Focus Fund, the Boston Company International Small Cap Fund, and the BlackRock International Opportunity Inv A Fund.
Since it is a mantra on Wall Street that past performance does not guarantee future performance, why should we care about stellar past performance? It depends on whether you feel the managers at a fund make a difference and can adapt their strategies to new conditions.
