Fidelity Select Sector funds Message Board

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Strategies & Market Trends : Fidelity Select Sector funds

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To: Proud_Infidel who wrote (4915)	6/28/2004 12:28:20 AM
From: Skeet Shipman	of 4916

Hi Brian, I have not yet seen Eliot Spitzer provide evidence that letting certain large clients trade mutual funds in a monthly or even weekly time frame hurt the longterm investors. In fact, I content that the longterm investors benefited from such trades. Usually, mutual fund flows are a contrary indicator. That would mean that when a fund would best be buying the fund would be experiencing low inflows or outflows. And when it would best be selling it would be experiencing high inflows. For the short term trader to benefit from their trades they would be providing the fund cash when their are outflows and withdrawing cash when their are high inflows; that is at the appropriate time for the fund to be buying and selling resulting in a benefit to the longterm holders! Skeet

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