OT: Sorry, have not been able to post. Just back from a vacation week in Paris.
Great way for a value investor to celebrate the Millennium... without the crowds.
(We really liked "Food Lover's Guide to Paris"-- great choices therein.)
Our expensive (imo) first class airfare (which is an improvement over business class) pales compared to the losses I see I'm taking with my airline stocks in the past week. UAL, DAL, ALK all down.
Going through my incoming 1099's, now I see that not only did the growth and
income funds not do well, but that I've got more income than growth. Not being tax sheltered, I'll be paying full tax on this income.
As you said last week, the question is where should the freed up money now be reinvested. I'll be calling for prospectuses for some funds on Monday. I personally would rather buy my own kind of stocks with all family monies, but for diversification and "some" "alleged" "safety" I'll have some mutual funds.
If market crashes, I tell myself that I can explain to family members, that see, it wasn't just me--the top guys got hit and hurt too. Realistically though, if I'm involved in selecting a fund, I believe my family will still beat on me for ANY losses they might experience (temporary or permanent, regardless of fund or fund manager).
Two funds that might be intriguing - but I know nothing about-are TCW Galileo Select Equity managed by Glen Bickerstaff and Kobrick Capital managed by Fred Kobrick. Both apparently have beat the S&P for many years.
Paul |
