What Stansky has done by outperforming the S&P 500 is shown that while asset size is a handicap for an actively managed fund, it's not devastating. You have to be flexible. And you have to adopt a large-cap, low-turnover strategy. |
When people saw (Van Wagoner) leaving they started bailing out, |
When you have all the funds in one family, maybe sharing the same analysts' research, various biases work into a portfolio, |
When you have this tremendous bull market, funds do seem boring, ... A lot of people have discovered Internet trading, and mutual funds don't give you the thrill of seeing your stock go up 50 percent. |
With any investment, you want your incentives aligned with those in charge, |
With real estate funds, you'd be better off buying them after a bad year. |
With the bull market in its 17th year, this isn't a bad time to start thinking about risk. |
You can give yourself whiplash buying the ones that do the best in this quarter, ... You wouldn't want to buy a bunch of narrow funds. |
You don't just sell an area that underperformed in your portfolio, ... That could be next quarter's star. |
You don't just sell an area that underperformed in your portfolio. That could be next quarter's star. |
You just can't jump back into the market with $15 billion when it rallies. |
You maybe expected a lot of money to leave, but the fund was having great returns so more people put money in. |
You need a large sum for it to work for you, |
You really should find other ways to distinguish yourself. |
You really shouldn't use the free toaster to drive where you're investing your retirement money. |