I'm lucky that I have had PRNHX for a long time. The current manager had a great history with his previous Price fund. My theory about which funds I like: If the fund significantly outperformed the index and other funds in its category for about 8 or more years that's a great fund. Of course, the manager also must have a great long term track record in his previous or current fund, fund fees should be reasonable, respected fund family, and excellent Morningstar and Lipper ratings. That's why my key funds are PRNHX, TRBCX and VWELX. Of course, the future returns are never guaranteed. What do people think of the above theory? Thanks.
Seems mostly reasonable, but I'd point out that 8 years might not include a full market cycle. You could easily get a surprise that way. I like to see a chart with a gradually increasing spread over peers, which includes at least ONE full cycle. I can then be reasonably sure that I've identified a 'good' fund. Then it's an issue of how volatile you want the fund to be. I prefer not to see huge up and down swings, but recognize that those WOULD indicate some trading value in that investment.
The PRNHX manager has an amazing track record in his previous Price fund. He's managed PRNHX for about a year.