There are thousands of funds with no capital gains exposure. |
There seems to be a move towards responsible disclosure. That (fund fees) is one area where you can clearly see that fund directors are not doing their jobs. They're always willing to raise expenses. It doesn't make sense. |
There's bound to be a strong interest in protecting your principal and your reputation. However, I think it can be a mixed bag. On the one hand, you have some nice stability. . . . But at the same time, there can be issues. You have to ask, has this person really earned their spot? Obviously some will show experience beyond their years, for having grown up in it, and having fathers that can show them the ropes. That can be tremendously valuable. |
There's constant discussion about the Vanguard Index 500 Fund. If you say, 'I want a great index fund,' you think of the Vanguard 500 Index Fund. If you say, 'I want a great actively-managed fund,' there are many different names. |
There's going to be a lot of talk about the dot.com bust?a post-mortem if you will?the lessons to be learned and the realistic expectations investors should have going forward. |
There's no question you've got two strong-willed, opinionated people. Brennan is in a tough position because he's following the legend but the legend is still around. |
There's no real need to panic. |
They all look pretty brutal and very bear-market. |
They may have been in a pretty good position to weather the storm. |
They may not all walk away best friends, It's in everyone's interest to reach a deal. |
They should have a good track record of doing what's right for fund holders, |
They're selling a little, but their technology weightings are still way ahead of where they were six or nine months ago, |
They're selling a little, but their technology weightings are still way ahead of where they were six or nine months ago. |
Think about it the other way. If you see someone who's got millions invested, that's a very strong statement. Even if the excuses are good, you've got one manager whose interests are more aligned with yours than the other. |
This is a consolidation period in the industry, both in terms of staffing and the number of funds. We've seen a lot of fund mergers recently and some layoffs, |