THE RECORD

Morningstar out with its list of candidates for Domestic fund manager of the year- and how have some of the best long term fund managers done in 2008?-

ARTQX- (Artisan midcap group) -33% (not too bad);

BRWIX (Brandywine group) -47% (ugly);

DODGX (Dodge Cox) -45% (ugly);

FAIRX (Fairholme -Berkowitz) -33% (ugly for this superstar);

LLPFX (Longleaf - Mason Hawkins) -54% (hard to believe);

LMVTX (Legg Mason -Bill Miller) -56.5% ( bad decisions get worse);

MQIFX (former Michael Price fund) -26.5% (pretty good);

OAKBX (Oakmark Equity Income) -18% (pretty pretty good);

PRPFX (Permanent Fund -) -14.6% (gold and treasury's worked)

TAVFX (Third Ave -Whitman) -47% ( value didn't work so well);

UMBIX (Columbia Val +Res) -50% ( a big winner for many years);

WGRNX (Winters) -41% (lots of Japan and WYNN);

WWNPX (Kinetics -big winner for many years) -53% (very ugly);

Vanguard SPX Fund- 38.7%

Vanguard Tot Stk Mkt fund -38.7%

Vanguard GNMA- +5.9% (BIG WINNER)

One thing pretty clear- long term records built over many years and decades destroyed over some bad decisions about financial companies and ratings agencies.