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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (6681)7/10/1999 8:30:00 PM
From: Demosthenes  Read Replies (1) of 15132
 
All,

On today's show a guy spent 100K in loaded funds for his IRA. I've been a brinkerhead for over 5 years and have been through this scenario with Bob on the radio hundreds of times. I have never bot any fund besides no loads and use NDB and Schwab, but this time Bob's response--so predictable--struck me a bit differently.

First(ly), Bob, after getting the names of the funds, goes to his Barron's and goes through the "are you sitting down?" routine, making a big deal about the load % on each of the funds. The short-term performance of the funds was also questionable.

Bob went on to say his usual derogatory implications about the broker who sold the funds and even went on to suggest that he went out and bot a new car with the commissions. (Even at 5% commission I don't know how you would buy even an acceptable used car for that).

Bob recommended his and vangaurd's website for further education.

I don't think it would be a stretch to say that Bob doesn't like brokers who sell loaded funds. But when a caller says they sold (or bot) their house I have never heard Bob ask what commission was paid to the RE broker or suggest that he/she went and bot a new car (as opposed to paying a mortgage or the dental bill for the kids). Couldn't Bob suggest a website or a book that would tell you how to do "for sale by owner"? Why hasn't he done so?

When a caller says they bot a new car, how come Bob never asks what the commission is or suggests a website that would help us learn about taking delivery without the help of a dealership? Forget about mutual fund loads, you can save 10% on a car, or close to it.

In all the calls about refinancing and mortgage rates, I've never heard Bob bristle with animosity.

When commissions are involved in buying anything, we are paying money that can never be recouped and will never earn interest. Mutual fund loads can be avoided and Bob is on a mission with this option. And more power to him. God knows he's made me a fortune.

My conclustion is that Bob is not as upset with the load that is paid for a mutual fund as he is with brokers who he holds in such low esteem. In comparing his attitude toward other commisson business' on MoneyTalk I don't see how anyone who has listened for years could come to any other conclusion.

Comments?

D

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