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Strategies & Market Trends : Mutual Shares diaster

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To: Ben Suntag who wrote ()	7/25/1998 11:48:00 PM
From: Mad Duck	Read Replies (1) of 3

One problem is that Michael Price sold his funds to Franklin Templeton several years ago, committed to stay managing his funds for a period of, I believe, five years, and he is now phasing himself out as he gradually turns management of the funds to a team. Thus, his prestige and expertise are no longer on the line. Another, and perhaps more significant, problem is the Price made a huge investment in Sunbeam which at YE'97 represented almost 5% of the funds' holdings. You may know that bottom dropped out of Sunbeam, Al Dunlap was fired and more bad new may still come once the special audit of the company's books is finished. In a nutshell, Sunbeam is what has dragged down performance. We sold for the above two reasons.

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