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In his March 19 "Sizing Up the Rule Breaker," Tom Jacobs feels the Rule Breaker has done well because it has out performed the S&P 500 and NASDAQ. However, in 2000 the portfolio lost over half its value, and it continued to loss money in 2001 and 2002. Those readers who jumped on board in early 2000 have lost over half their money.

The Rule Breaker investor has only 43% of the money he invested in early 2000. To make up a 57% loss requires a 131% gain. It will be years until the new investors are back up to even, or old investors are back up to what they had at the end of 1999.

I know we are all in this "for the long haul," but if a fund manager lost over half my money, I would find a new fund. Tom Jacobs has lost his Foolish status, and has become one of the Wise, marketing his fund to the truely foolish (as in not so bright).

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