Khalil, You have to look at how much they manage in how many different funds. However, I did notice that the performance at some of their perennial honor roll funds has dropped off lately. They are losing managers, and, despite the anonymous team crapola they try to foist on the world, you cannot lose a lot of talent no matter what your corporate culture.
The big brokers sell these funds hand over fist, simply because they have the best marketing packages in the business. One of their funds has this great chart showing how Investment Company of America has performed since 1929, with all the bad news events cranked in where appropriate. They believe it shows that all you have to do is buy and hold, or, better still, dollar cost average, to get rich. I like it, but I would add three caveats. How many folks here were investing in 1929? And what has inflation done to that initial investment? And, the main one, who the heck had $10,000 after the crash, back in the days when workers made $5 to $10 a week? MB |
