Francis Chou and his flagship Chou Associates Fund are the subject of this article on Morningstar in Canada. Chou is applauded by Morningstar analyst David O'Leary for his call on subprime lending.
Longtime readers of Controlled Greed.com will recall that I've previously posted that Chou was an officer of Fairfax Financial (FFH/NYSE). According to the linked article, he stepped down from Fairfax last spring (where he wasn't drawing a salary) to concentrate on managing his mutual funds full-time. (Fairfax apparently owns more than 26% of Chou Associates Fund.)
Chou, like Fairfax's Prem Watsa, has a very cautious view of global markets. His Chou Associates Fund is nearly 50% in cash.
Considering, recent performance of his funds, I wish he stayed at Fairfax
Posted by: Luka | October 12, 2007 at 04:22 PM
Regarding the terrible performance of Chou RRSP, I suppose the reason is the performance of Bivail, and even bigger mistake not to hedge the dollar.
Well, I really do not like that rigid style of money management and I am looking for the first opportunity to reduce the exposure.
Posted by: Luka | October 12, 2007 at 04:25 PM