34 ordspråk av Russel Kinnel
Russel Kinnel
A key challenge for investors is picking funds whose asset bases haven't become too fat to be handled effectively.
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A tax-managed fund is simply a fund who's goal it is to maximize after-tax returns, whereas most funds are focused on pretax returns, ... I think the one thing that probably all of them have is the idea of selling losers to offset gains. If you've just realized profits on one stock you'll sell a few dogs.
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And not just to look at those two options either, ... If they can't get good management at modest cost, then liquidation is a good option too.
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Anytime you can get a fund with a sound strategy, small assets and low costs, good things are likely to happen.
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Despite those amazing returns, by and large all those funds really did was lose money for a lot of people. One of the main points of owning a mutual fund is to be able to access high-quality professional management. But you are throwing that away when you buy funds like these with some manager who just happened to get lucky.
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Expenses are definitely trending down. As a result of the whole scandal, boards are taking their responsibility more seriously, subjecting fees to more scrutiny.
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Fidelity bases its IPO allocation policy entirely on asset size and that's the way it should be,
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Fidelity bases its IPO allocation policy entirely on asset size and that's the way it should be.
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Generally you go with a manager who has a meaningful track record somewhere. It doesn't guarantee this is a smart or good manager, but at least it said I've got a few years and I can learn a lot from that.
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Generally, what you'll find is a pretty normal distribution (among socially responsible mutual funds). As far as I can tell, those screens don't have an impact positively or negatively on performance.
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He certainly deserves points for doing so well despite the growing assets.
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He's a very sharp guy who did a really good job at Mutual Series. They got points for not giving up on their strategy during the growth boom and tossing aside dividends and balance sheet analysis.
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High costs, the lack of an age-based option and poor investment choices make these options unappealing on almost every level.
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I don't see it having a big impact. The whole point of mutual funds is to avoid the Wall Street bias and most shops have their own in-house research. Big firms, like a Fidelity, have 200 professionals across the world so they never cared about the Street research to begin with.
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If you thought you were the only one having a hard time finding a good small-cap fund, foreign or domestic, that was still open and not too bloated from assets, think again.
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