Greg,
I find it interesting that in the December 4 Investor's Business Daily the number one rated "Growth Fund" is Mairs & Power Growth, a fund with minimal turnover.
George Mairs states that "holding anything for less than 20 years is short term." Among the holdings are St.Jude Medical, 3M, Honeywell, Hormel, Target, Emerson Electric and General Mills. Many of these stocks have been holdings for 30 years; turnover is minimal, making for minimal tax consequences, low expenses,and a total of only 12 employees.
As of last August, Forbes Magazine stated, "Over our ten-year Honor Roll measurement period,the Mairs & Powers Growth fund has produced an annualized total return of 18.3%,almost a full percentage point ahead of the Vanguard 500 Index Fund. Since inception back in 1958 the fund has produced a 12.1% annualized return."
This gives another view of current anxiety,doubt,grief,etc, which investors may be experiencing. Since 1958 many things have occurred. George Mairs has consistently maintained a diversified portfolio of common stocks which have appreciation potential and held those stocks.
Fred |
