CGM Funds

By chance, do any of you have experience with CGM mutual funds?

I stumbled across two of their funds today, CGM Focus (CGMFX) Large Blend/Growth, and CGM Realty (CGMRX) Real Estate, and I was blown away by their returns. It looks like in the past 6 years, they've doubled, tripled, quadrupled & more in value. Both funds have been managed by G. Kenneth Heebner since inception in the '90s and both are no-load funds with about 1% E/R. I wouldn't consider investing in a realty fund in today's environment, except that I see he is up more than 14% YTD! Aren't most REITs tanking this year?

From what I found, it looks like there are 4 funds in the CGM family, all managed by Mr Heebner (how does he do it? and how does he do it over all these years - since 1976? wow)
Other than probably being volatile funds, or maybe his investment style being unorthadox/contrarian(?), does anyone know about some real downside to these? My guess is to treat them both as sector funds (maybe 10% of a portfolio?), but I thought I'd get some input from those who know more about it.

Thanks.
Rookie

Rookie,

I was suprised earlier in the year that REITs were doing as well as they were, considering the overall state of that sector at the time. I have not compared CGM with any other REITs recently, so I cannot compare them.

I just remember they had the annoying commercial last year on CNBC with the two guys fencing while discussing the CGM Realty fund, managed by Ken Heebner (if I am not mistaken).