Garrett Van Wagoner Gives it Up…Finally
One of the worst fund managers of all time, Garrett Van Wagoner, has decided to quit managing money. Van Wagoner was one of the more renowned managers in the 1990’s, almost approaching the accolades that Ken Heebner receives today. Van Wagoner had a couple of years of incredible returns, but fell on hard times where he underperformed year after year to the point where his 10 year record is at the bottom of all funds. The expense ratio on his funds of around 5% was particularly onerous given his abominable performance.
I’ll never forget when Van Wagoner was on CNBC and claimed that the average investor had no chance of competing against him.