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Fund Spy

Put These Top Managers to Work for You

How to employ our Fund Manager of the Decade nominees wisely.

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So, now that we've named our nominees for Fund Manager of the Decade, are you thinking about adding one or more of their funds to your portfolio? If you're sitting with a collection of mediocre funds right now and wouldn't incur onerous tax burdens by overhauling your portfolio, that could be a good idea--heck, we wouldn't have made these managers nominees for our award if we didn't think so.

But you should mind certain risks and idiosyncrasies of these funds. Both advisors and individual investors are often guilty of expecting too much out of their investments. Having reasonable expectations is perhaps the best bulwark against bad investor behavior, such as giving up on a fund at the worst moment. What follows is an effort to set rational expectations for our domestic-equity Manager of the Decade nominees' funds and to help you use them wisely.

Manager of the Decade Nominees FundsBruce Berkowitz Fairholme (FAIRX)Don Yacktman Yacktman (YACKX)Steven Romick FPA Crescent (FPACX)Joel Tillinghast Fidelity Low-Priced Stock (FLPSX)Charlie Dreifus Royce Special Equity (RYSEX)

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John Coumarianos has a position in the following securities mentioned above: BRK.B, RYSEX, CVX, NPK. Find out about Morningstar’s editorial policies.