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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Tommaso who wrote (153049)2/24/2002 11:53:52 AM
From: Knighty Tin  Read Replies (2) of 436258
 
T, They've done great lately, but horribly over time. I have mixed opinions. It is nice to have such a fund handy when you turn totally bearish. But in the long haul, it is just as dumb to be a bear all the time as a bull all the time.

I still prefer the old days where you hired the best money manager you could find and didn't tie his hands. He or she could go long, short, fat or thin. Morningstar's little investment style boxes made of ticky-tacky ruined that concept. But, if he weren't so old and retired, I'd rather lay back in an easy chair with a babe on each knee and have a John Templeton deciding where he should be long and where he should be short. Alas, no such critters out there now.

What many people don't realize is that nearly 20% of all equity mutual funds, including the bearish and gold ones, had positive returns last 52 weeks. Maybe even more of the closed end fund universe did well. But, of course, almost nobody owned them because they didn't have five stars. <G>
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