Larry, Many factors go into hiring managers. First is, are you related to top management at the fund firm, hence the astounding rise of everyone at the Johnson family who works for Fidelity and the rise of Davis's at, you guessed it, the Davis Funds. <g> Then there is track record, the recommendations of brokers (believe it or not) personality and rain making potential. I had 3 of those last 4 things and am working on the personality.
I never worked for Alliance. I worked for Waddell & Reed (The United Funds), The St. Paul, a private family hedge fund, and American Capital, which is now Van Kampen. However, my assistant at St. Paul eventually became a portfolio manager with Alliance.
Despite the piece you quoted, Alliance is an above avg. fund manager. Not as good as Waddell or Van Kampen, which are top 10 families every 5 and 10 year period Barron's mentions, but not at 73rd and last like The Principal Group, either. Think of the managers they must be hiring? <g> |
