At most holiday feasts, the second helping is more filling than the first.
That should be the case in my annual buffet of fund buffoonery, the 12th annual Lump of Coal Awards, recognizing managers, executives, firms, watchdogs and other fund-industry types for action, attitude, behavior or performance that is misguided, bumbling, offensive, disingenuous, reprehensible or just plain stupid.
Last week, I highlighted 10 award winners who deserved nothing more than coal in their holiday stocking this year. Here are the rest:
Failing to get out the vote: Managers of the Blue funds. The tiny Blue funds allow Democrats to invest in companies that “act blue” and “give blue.” Beyond that, management claims to be “actively engaging in shareholder resolutions and proxy voting in an effort to promote increased transparency in corporate political giving.”