ONE THING FOLLOWS ANOTHER
Directors Capital finished 1982 dead last out of the 526 funds ranked by Lipper Services, with a 58% loss. The fund, however, has been unhappily consistent. Its shares had dropped 76% in value in the previous five years. On the fourth or fifth call to Directors Management Co., the New York-based investment adviser to Directors capital, a woman said that the portfolio manager of the fund would be happy to talk, “but he just spilled coffee on himself; he’ll get back to you after he cleans himself up.” He didn’t return the call. Fortune, Mar 7, 1983, page 48.
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