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Strategies & Market Trends : Value Investing

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To: cfimx who wrote (5501)12/20/1998 1:31:00 PM
From: Paul Senior   of 78670
 
Twister, two fund managers with whom I have a problem with their investing choices not IMO meeting their stated style or choice of style are:

Price: especially as relates to his purchase and holding of Sunbeam

Yachtman: One particular stock in his portfolio.

Of course I can not provide you "EVIDENCE". But given the general business media discussion about how many funds are becoming closet indexers, and the pressure I think I see for funds managers to show they add value - value that the fund investor couldn't easily or possibly do for himself/herself - like do sophisticated accounting or become personally knowledgeable of the top management - I am suspicious that such stocks are actually selected by the way the manager states.

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