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Mutual Funds - Mutual Funds.
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Posted by on June 3, 2008, 4:57 pm
Buy Low, Sell High. Go against the delusions of crowds. Well, fund
managers never try to sell what is unpopular, but if you are a proper
contrarian THAT is what you'll buy. So the fund you need to accomodate your
strategy won't be out there because no one wants to buy it. Chances are it
was folded into another fund because of its unpopularity. (My dad had a junk
bond fund that well paid his bills during retirement, but by his death it was
worthless, and they folded it into something else, but now that it should be
recovering, it's gone, so how'm'a gonna get the money back?) So in the end,
no fund does what it is supposed to. A few years ago, the market could only
support one firm making widget #492, but there were five firms out
there. Why? The TAA models told the boomer pensions flush with cash to go buy
them. So they told the VCs to go and create IPOs for five firms so thoy could
buy the stock to fill their orders. Except those stocks were doomed from the
get go. The only money made in the long run was fees.
- = -
Vasos Panagiotopoulos, Columbia'81+, Reagan, Mozart, Pindus, BioStrategist
http://ourworld.compuserve.com/homepages/vjp2/vasos.htm
---{Nothing herein constitutes advice. Everything fully disclaimed.}---
[Homeland Security means private firearms not lazy obstructive guards]
[Urb sprawl confounds terror] [Remorse begets zeal] [Windows is for Bimbos]
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