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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: marginmike who wrote (176188)6/28/2002 1:52:37 PM
From: marginnayan  Read Replies (2) of 436258
 
I have my little IRA in MFS mutual fund. Last year and prior to that TYCO garbage was one of MFS largest mutual fund holding. MFS funds have their own in-house research, is headed by John Ballen and they do not rely on Wall Street sell side research. Even they got duped and so did Bob Stansky of Magellan. So the point is even the smart people got it wrong. Now the value fund managers are getting duped by buying falling knifes. Botton line the market needs strict regulations and checks and severe penalties for those who misuse, abuse or lie to investors. And I think it will happen sooner rather that later.
The small company, about 500 people, that I worked for just hired a VP of legal counsel, even in a recession.
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