No. of Recommendations: 4
surprised Longleaf is even mentioned and still around. their performance is so laughable.Well, I think I'm the only one who ever does... :-)
I occasionally look at them. I had a substantial investment with them at one time. My excuse - I was busy running a business and having kids, and decided to farm out investment management*. Longleaf seemed to fit the bill - value investors, concentrated portfolio, "eat their own cooking", David Swenson wrote about them in complimentary terms in his book. They really, really screwed up in 2007/2008. They saw what was happening but somehow failed to execute. And never really got any better, all the while charging their 1% or so. I did finally give up on them, 10 years ago.
It's difficult to figure out how they have screwed up so badly, and yet still have $3.7 billion AUM.
Since I got out (11 years): Partners Fund CAGR 4.35%
https://testfol.io/?s=dDQJiLoWoni*I would have been far, far better farming it out to Jack Bogle.
