Ken Heebner: country’s No. 1 mutual fund manager
Posted by Dave | Posted in Investing | Posted on 17-04-2008-05-2008
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Ken Heebner, 67, is a founder of CGM Funds.
“One of Heebner’s secrets? He bets on a few companies tied to a gauge he can follow such as commodity prices or monthly same-store sales.”
“Beyond noting that intelligence, friends laud Heebner’s honesty and work ethic. He reads religiously, going home with stacks of analyst reports and obscure trade publications like China Metals Weekly.”
“Heebner shorted tech stocks amid the burst bubble of 2000.
He bet on home builder stocks in 2001, and they soared the next three years.
In 2005, he doubled down on commodities like copper and oil.
By 2007, he was selling short mortgage companies such as Countrywide, foreseeing the credit crisis before it filled headlines.
Those sectors contributed to last year’s 80% return in his CGM Focus — 2007′s top fund in the country.”
