Picks of the quarter Message Board

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Strategies & Market Trends : Picks of the quarter

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To: snookcity who wrote (1099)	7/28/2006 6:22:12 PM
From: Sr K	Read Replies (1) of 20435

ETFs also have different tax consequences than stocks. But they are funds. It's the 3rd word in the name. They have a layer of fees including in some cases royalty or license fees. Most people know that statistically, the broad indices have outperformed actively managed funds over a long-enough period. Taken to the extreme, a "player" in the contest could choose two broad-based ETF's and no one here is going to take the time to compare the holdings for overlap. If someone won with SPY and QQQQ, what's the point? What about a sector ETF and then having a component also in the portfolio so the holding of that stock is really over 50%? Choosing an ETF, except as a money-market substitute until you really choose is admitting that one can't beat the averages, on average. This is a game, a contest to see who can beat the averages or other players, over time or just once. I still think ETFs should not be considered an equity. And the rules #4 and #5 for "equities" referred to diversification within the portfolio not for one choice that is a portfolio. How often they trade doesn't matter. We do not allow midday transactions. IMO.

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