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Technology Stocks : Corel Corp.

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To: A. Hayer who wrote (1633)	8/26/1997 12:09:00 PM
From: Vanni Resta	of 9798

A. Hayer wrote: "How many of your friends and fund managers are doing just that?" Well, not having friends who are investing for 30 years, the answer is none. Although they have been doing it for five years. But again, when you say ask "how many mutual funds are out there with 15 year average returns of greater than 30%" you are missing the point that individual investors have much lower costs, and therefore can do much better than fund managers. I know this borders on sacreligous in an era when fund managers have taken on the status of gods. But if you put down the manager-worshipping personal finance magazines for a moment, meet some smart private investors and hear what they are doing, you will see that this is the case. And I'll bet you that Warren Buffet does a lot better than 27% (not 30%) annualized return in his personal account. He's a smart guy. Do you think he would settle for that? No, that is not going too far at all. There is an appropriate place for everything, and now there is a place for Mr. Woo to discuss his emotions, so he does not have to use the Corel thread. Happy Investing! Vanni

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