A lot of the companies these funds have invested in have run pretty hard. Chasing performance here is probably a recipe for disaster. |
A lot of the funds in this rally are really some of the more speculative, riskier ones around and investors should be careful about chasing their performance. |
Any time you see a substantial deviation in returns with a fund compared to its category, it's usually because it's taken a substantial risk to get there. These funds aren't less risky now. It's just that the stocks they've invested in have finally started to come back. |
Classic Bill Miller is to find companies that other people don't like and see if the projections were incorrect. |
Clearly he underperformed badly during his tenure. He had a large bet in place on some of the biggest stocks on the market. |
He has long stayed out of energy, and it's been the leading category. That really held the fund back, but more recently energy hasn't been a great place to be. |
I don't have a crystal ball, but travel is likely to slow. |
I think that has been thrown into doubt by her failure to innovate in asset management. |
I think the odds are good. I would be surprised if he didn't (beat the S&P). |
I think they're on the right track with the changes they're making, but only time will tell if the execution will work out. |
If it's a trend, it's going to be slow moving. |
If you're thinking about buying an Internet fund, you have several options. But people are waking up to the risks of the sector. All of a sudden you've got a smaller group of people who want to take the plunge. |
Investors are more aware of the risks associated with these offerings. We'll see more consolidation of technology funds and that's a healthy thing. |
Investors should never go into a tech fund expecting stability. |
It's a nice marker of his consistency, but I wouldn't think less of him if he didn't make it. |