[3/6/07] Thanks to a study by Berkeley's Terrance Odean, who looked at thousands of real-life transactions and found that when investors sold a stock and buy another with better prospects, that new stock trailed the old stock by more than 3 percentage points over the following 12 months. That's right, trailed. As in worse.
[2/28/07] The performance of the Closed-End Country Fund Report newsletter just keeps getting curiouser and curiouser.
As I [Mark Hulbert] have several times mentioned over the past 18 months, this newsletter has not been published since mid 2004, more than two-and-one-half years ago. But since James Libera, the newsletter's editor, did not formally kill the service, instead indicating that he might someday resume regular publication, the Hulbert Financial Digest has continued to track the newsletter's performance by keeping watch over the last-known sighting of its model portfolio.
And what a performance it has been.
Since that last-known sighting, the newsletter's model portfolio has gained a total of 139.2%, according to the Hulbert Financial Digest. The newsletter was not only one of the top performers for calendar 2006 (coming in fifth out of the nearly 200 newsletters the HFD tracks), it has now emerged as the top performer for the past five years.
[story link from Chuck Brotherton at value_investment_thoughts, 1/20/07]
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