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Technology Stocks : America On-Line (AOL)
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To: sam who wrote (1307)1/4/1999 3:00:00 PM
From: Jon Stept  Read Replies (1) of 41369
 
Sam Re:" under no legal obligation to own aol at any particular time"

Hi Sam,

Thanx for mentioning this. But, I am still confused... why do they call it an S&P fund then... isn't that misleading and dangerous? If the stock takes a nice pop and they aren't on board, then I would think this might sully their reputation.

I understand they are protected for all sorts of things, legally and ultimately.... good move to protect themeselves from ridiculous liability claims. But all funds do this, I imagine. But I would think they would want to meet customers expectations of what their fund does.

If they are under no legal obligation, then they can also sell a stock if they think it is going to tank. And again, what happens if their call is wrong. It doesn't make sense, at least to me.

Legally, they protect themselves from the absolute worst, but I don't think they would then use this leeway operationally on a day to day basis.

Jon :)
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