Fortune’s Mina Kimes writes: Who is James J. Wang? It's one of the most intriguing questions in the mutual fund world today. Over the past five years, Wang's tiny Oceanstone Fund has outperformed every single mutual fund in every category -- and it's not even close. His 40.5% annualized return since 2007 is almost triple that of his nearest competition and dwarfs the 1% average return of the S&P 500 (SPX) over that span. But the reclusive investor, who runs the $17 million fund out of San Diego, has repeatedly declined interviews.
The combination of such a spectacular record with such resolute silence has prompted some to wonder if it's all too good to be true. "We have people calling us and asking, 'What's going on with this? Are those numbers right?'" says Jeff Tjornehoj, a research manager at fund tracker Lipper. Oceanstone has received a top score for consistent returns from Lipper for 27 consecutive months, a feat achieved by just 1.7% of funds over that span.
Rajendra Prasad, a doctor in Long Beach, Calif., who has served as a trustee for Oceanstone since its 2006 launch, says Wang -- who did not reply to Fortune's phone calls -- instructed him not to talk to the press. "I know him well; he is very private," Prasad says. "I don't want to give out anything because he will be upset with me…."
http://finance.fortune.cnn.com/2012/03/12/oceanstone-fund-james-wang/?iid=SF_F_LN
No comments:
Post a Comment