You are paying someone to manage your money because you dont have the time to pick stocks and yet you have plenty of time to pick sectors and dismiss managers who dont stick to those sectors?  Thats pretty interesting...I thought the idea was to choose managers who know more than we do...

It would appear that you are basically wasting your entire management fee... why not just buy a few sector ETFs that mirror your worldview but negate the need to pick stocks?

You are of course up for the year as your funds have huge exposure to gold, oil, treasury bills and they short stocks... all classic beneficiaries of recent trends... the funds you mention are more or less always working in these areas; they didnt shift into them strategically in front of recent trends... so you might actually benefit from including a manager who has a broader mandate and whose views are contrary to yours...

Ajw