Can anyone think of an agrressive growth fund that had been
generally identified as a great fund, and then continued to
perform well over the next 10 years?
I've been investing in funds since 1982, and I can't. I can,
however, think of quite a few that bit the dust (either ceasing
to exist completely, or turning in poor to mediocre performance):
Forty-Four Wall Street, Hartwell Emerging Growth, Twentieth
Century Growth, Berger 100, ... The list goes on and on.
The best I can come up with is the Kaufman Fund, which runs
relentless ads trumpeting the fact that it is the number one
fund from the market low of 87 through 96. However, that
fund started in Feb 86, and so did not have much of a record
until 89 or so. By then it was, indeed, up spectacularly
from Dec 87. But over the past five years (through 96),
it's average annual return has been 18.9% (annualized).
This is good, but (for example) all of Michael Price's Mutual
Series Funds did better, and with much lower volatility.
I would love to hear from anyone who has consistently made
money over a ten-year period by investing in aggressive growth
funds. Share your secrets! How do you decide when a drop
is just a normal fluctuation in a high-volatility fund, or
the beginning of the end? |
