You have to see it to believe it. The Ameritor Investment Fund (AIVTX) has lost 99.5% (see Yahoo for the fund price) of its value over the last 6 years. In other words, a $10,000 investment six years ago would be worth $48 today. NAV has fallen to 1 cent, assets are way below $100,000. This could be the first fund to lose all its investors’ money.
For more investing losers, see Chuck Jaffe’s ‘Lump of Coal Awards. ‘