If nothing fundamental has changed (for the worse) since you bought the fund, e.g.:

• Management
• Approach and strategy
• Fees
• Asset base
• Fund company structure

and your only complaint is that it lost 4% in 2007 and is down 11% in 2008, then you shouldn't sell.  IMO (no guarantee of course) you will likely regret it.

Like Oildog, I see no reason to sell.  If this was the type of fund I was in the market for, I would probably buy it now like the dickens.

If I recall, last year Kiplinger named Horn "Manager of the Year" or something like that, and there was a fan club on these boards akin to what Heebner enjoys now.   I don't object to awards and fan clubs, but I suggest we all do our best not to buy high and sell low.