MATTRESS-MONEY FUND

摘要

Portfolio manager Thomas Atteberry hates losing money. "I lost $50,000 on the first house I ever owned," he laments. That was in Dallas in the 1980s, when oil dropped to $10 a barrel from $32 and the housing market crashed. The wound left a permanent scar on Atteberry, 61, and is surely one of the driving forces behind his "never lose money" mantra as manager of the $5.9 billion FPA New Income fund. The bond fund makes a habit of underper-forming Barclays Aggregate bond index, but importantly, it has never lost money in any year since 1984.