It's the flavor of the month, ... It's an overly narrow, gimmicky thing. |
It's the flavor of the month. It's an overly narrow, gimmicky thing. |
Janus 20 and large-cap growth stocks could almost do nothing wrong in 1998 and 1999, |
Japan stock funds and precious metals funds were dogs for the whole decade. Virtually all domestic stock categories lost money. It was a tough quarter. |
Lately, performance has been so bad that a fair amount of money has been coming out. It's been a fund people are disappointed with. |
Like baseball managers, there's almost too much credit given to a fund manager when (a fund) does well, and too little when it does poorly. It's very healthy to look beyond a star manager. |
Look in a category, any category, and if you saw a fund doing really well, or really poorly, nine times out of 10 the explanation, the answer, was energy. This year it was all about energy. |
Many investors probably don't realize how much of a difference there is in research at different shops. It's an under-appreciated part of the business, but it's the heart and soul of it. |
Merrill's record looks better than it is when you consider the bad funds they've merged away. They swept quite a bit under the rug. |
Miller has totally avoided energy and Davis has some energy. Think how that works in this year's environment, when energy did well. Miller's bias didn't hurt it as much. But maybe next year, it will work the other way. With this variation . . . you're getting the manager and strategy diversification, but you're not getting this bloated portfolio that's almost an index fund. |
Most fund company executives are very careful about what they say, ... Everybody could use a Jack Bogle. |
Mutual funds can make you rich very slowly, ... They're not going to make you get rich quick. The way to get rich fast is to take enormous risks. |
One of the worst things you can do is buy funds based on the returns of the last six months, ... Reason seems to have taken a vacation with these (Internet) stocks. |
Over the last 10 or 15 years, commission costs on stock trading have come down a lot more than the costs of funds, |
Over the long haul, it's almost certain that these will be a losing bet. |