Z Best Place to Talk Stocks Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Z Best Place to Talk Stocks

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kelvin Taylor who wrote (52903)	3/22/2005 6:56:18 AM
From: Ron McKinnon	Read Replies (1) of 53068

I really had to chuckle at the mutual fund CEO who was on CNBC yesterday an all time classic last week someone was on CNBC talking about poor performing funds said that Fund X was the worst of the worst so the CEO came on to rebut to paraphrase: CNBC: what do you have to say about your fund losing 95% and being the worst? CEO: I disagree we are the worst but in any event we are going to be terrific going forward CNBC: why did you do so poorly? CEO: we were in the wrong stocks at the wrong time CNBC: your expense ratio was 40% of assets CEO: that was a function of fund size; our assets had fallen to 100K, now we have got in new money and the fund has grown to 500K; so the expense ratio is down to just 10%; going forward as our performance improves dramatically and we add assets and the ratio should fall to 1% CNBC: what about the comment you hired new fund manager only 20 years old with no experiance? CEO: again, not true; he is over 21 years old, going on 22 and he had many months experiance CNBC: how are you going to improve performance? CEO: be in the right stocks at the right time CNBC: so you feel good about the future for your fund? CEO: yes CNBC: thank you

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next