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Technology Stocks : Corel Corp.

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To: A. Hayer who wrote (1626)	8/26/1997 11:36:00 AM
From: Vanni Resta	of 9798

A. Hayer wrote: "At 20% per week, the initial dollar invested would allow you to buy Mike Cowpland's company in 109 weeks ! Warren Buffet (the world's most successful investor) only averaged 30% return per year to make his billions." Warren Buffet, like any big fund manager, can't do nearly as well as you and me because he has transaction costs, meaning that to get a significant position in a stock, he has to drive the price way up. Fund managers also have to diversify, meaning they have to find a lot more than two or three good ideas, which is not easy. Warren Buffet is not anywhere near the "world's most successful investor." I have lots of friends and I know lots of fund managers who do way better than him in their personal accounts, again for the reasons I stated above. Happy Investing! Vanni

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