Tuesday 25 May 2010

Wade Slome: "Nobody can sustain that kind of underperformance for a long amount of time and expect to hold the reins forever."

That's Wade Slome, that is. President and founder of investment manager Sidoxia Capital Management! Talking jive about Bill Miller of Legg Mason fame.

Leave Bill Miller alone! He'll retire when he wants to.

Down to business. Legg Mason Capital Management Value Trust LMVTX.O fund. That's the fund Bill manages! But what's with all the mystical letters?!

O Master, the LMVTX.O?

Fuckin' A the LMVTX.O! Bill told me to look in the letters. O my child, I am determined to make some sense out of these letters, even if it kills me! The invisible '<'. Now, what direction are we being pointed in? The past! This fund wants us to return to the innocence of childhood! You know all about that, don't ya, my child?

O Master, as you well know, 'my child' is a term of endearment. I am a grown voice, billions of years old. But someone somewhere is being urged to return to the innocence of childhood. That's for certain. Maybe we should bring in Mr Miller at this point.

Lads, I have nothing to say. You're on your own, I’m afraid - drifting in a sea of mystery! As for Mr Slome, well, there is something I could say, but I think I should keep it to myself. Good luck with the mystic letters! Seek and ye shall find!

Oh, he has nothing to say!

But I have something to say. That 'L'. The 'L' is for love, burning love. The love that Bill feels and passes on to us. This love, he gets it from the cosmos.

Well, that's pretty basic stuff. What about the 'M'?

This is a piece of piss! 'M' is for mystical. The love is passed on to us through Bill's mystical voice - 'V'!

O Master, that's fucking impressive, I must admit. What about the 'T'?

'T'. That's difficult. That has got me stumped.

Legg Mason Value Trust! LMVT!

Oh yeah. Shit. Shit!

Yeah. There's nothing mystical about it. We've been had!

What about the 'X'? What about the 'O'? And the invisible '>'? A mystical symbol, pointing to the future, surely?!

Mystical symbol, my arse. Forget it. It's bullshit. I'm starting to think that maybe Wade Slome had a point.

Bill! Bill! Mr Miller, are you there?

O Master, he's long gone. He's made us look like a right couple of fucking wankers.

O my child, if I get my hands on that bastard ... I'm splitting blood! I'm literally spitting blood over here.

Where does he get off, mucking us about like that?

I know. What a $%£$!