So, Ken Heebner hasn't been getting the best of returns of late. In fact, as this article points out, he's been getting rather bad returns--and for a while.
Nevertheless, as these three quotes show, Heebner hasn't changed his general strategy:
1. "“Most people think this is the worst time in the world to be optimistic, but my portfolio is positioned for strength in the U.S. . . I am functioning in a contrarian mode.”
2. "[Negative sentiment] historically has been associated with maximum points of opportunity for investing."
3. "I am completely outside the mainstream. I see the mainstream in the distance."
Will Heebner's fund come back yet again? Or is an investment in the banks ultimately a doomed strategy?
My own view is that if anyone can pull off a successful investment in them from here that man is Heebner--but even so I wouldn't want to join him in the bet.