Morningstar Manager of the Year Runners-Up for 2008
Sequoia, PIMCO, and First Eagle Funds impressed in 2008.
As brutal as 2008 was, there were a number of strong candidates for our Fund Manager of the Year awards. They made the best of an awful situation. Although nearly every fund was in the red, we want to acknowledge a few more of the best by sharing our runners-up for 2008. These are managers who did brilliant work in 2008 and past down markets. In fact, two of the three are past winners of our manager of the year award.
Our runners-up helped protect shareholder capital in the worst market since the Great Depression. Last year was a withering trial by fire for managers and their strategies. So, salute them for a strong year and look forward to enjoying their efforts in better times.
Domestic-Stock Manager Runners-Up
Bob Goldfarb and David Poppe of SequoiaSEQUX
Bill Ruane and Richard Cunniff started Sequoia in 1970, mostly as a vehicle to absorb investors sent over by Warren Buffett, who was folding his investment partnership. Ruane and Cunniff shared Graham-inspired value underpinnings with Buffett. They were also strong investors and conscientious stewards and, as it turns out, good teachers.
Russel Kinnel has a position in the following securities mentioned above: PTTRX. Find out about Morningstar’s editorial policies.