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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (45691)12/8/2000 7:13:19 PM
From: wsringeorgia  Read Replies (2) of 436258
 
Heinz, this is strictly a laymans point of view; but I believe the structure of the mutual fund is hopelessly flawed as an investment vehicle, except for maybe its use in non taxable accounts. Under current tax law, both fed and state, in a serious down market the holders invested during the decline pay the cap gains bill of other investors who may have left the fund years before.

Of course if there was enough political pressure due to cap gains distributon induced pain then I guess the lawmakers could revise the formula somehow. I guess there has never really been a great outcry because a BK has never happened with all these "soccer mom" MF investors getting creamed, but 2001 may be the year.

WSR
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