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Technology Stocks : JDS Uniphase (JDSU)
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To: TigerPaw who wrote (11694)7/22/2000 10:27:50 AM
From: David Graham  Read Replies (2) of 24042
 
It's important to remember that, strictly speaking, index fund managers don't care what price they pay. They are evaluated on their ability to match the index, not for making bets on prices. In the wacky world of index tracking, managers should actually be buying all their stock at the day's closing price - they do not get brownie points for buying it more cheaply earlier in the day.

It's like legalized robbery for the rest of us as we get to trade ahead of all the index buyers - it's the closest thing to a free lunch that I've ever seen.
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