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Strategies & Market Trends : PBHG Funds
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To: gary coe who wrote (22)7/8/1996 12:35:00 AM
From: Michael Burry   of 268
 
I avoid load funds because no matter how you slice it, a portion of
your capital is going to the broker when it is oh so easy to set up
the account yourself. All the arguments the brokers give about
12b-1 fees and hidden fees in no-loads hold very little water
when you look at the no-loads' prospecti.

PBHG Emerging Growth is closed to new investors. May I suggest
the Van Wagoner Emerging Growth and the Van Wagoner Micro Cap.
Both are scheduled to be closed soon, and the manager has been
extremely successful. Plus, can Pilgrim's team at PBHG handle
all these new funds as well as it did its Growth fund? That
remains to be seen.

Selling load funds that you already bought may or may not be prudent.
Oppenheimer does have good funds, and you already paid for them, so
why not hold them? That is a question you will have to answer.
In any case, do not change just for change's sake. Good luck.
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