Edmond, But the NAV return, what the fund actually made, not what the market was willing to pay for it, was much different. quicktake.morningstar.com
BTW, the 1999 number for market return was not 8.9%, it was -18.9%, according to Morningstar. The fund return, NAV, actually did better than that, so the discontinuity can work against you sometimes. The big problems I see are the big up numbers for market return vs. actual fund returns in 2000, 2001, and 2002. As I said, the market return is totally discount turning to premium.
I am sure an argument can be made that the premium will go higher, but I think that is the argument you must make to buy the fund.
Again, good luck with it. |
