Netman, do know a good financially literate attorney? All you need to start a fund is a few good people. I did read thestreet's article (the only other thing I pay for on the web besides SI). Think about it---all the people on the SI bulletin boards alone, not to mention the potential customers gleaned from a couple of hundred well placed links and banners on sites like thestreet and worthmagazine and the like. It is a ripe idea. I skimmed the prospectus of the internet fund and it was too scary for me. But even it is attracting assets exponentially. Historically though, phenomenal years are rarely repeated back to back. In fact the jump from 12% return in 1997, first full year since inception, to 190%+ in 1998 is beginner's luck and I'd bet not repeatable. The appeal of a true index fund, at least for me, is no meddlesome mgmt. screwing around with my money. It isn't practical to buy a basket of 100 different stocks for myself when a fund can do it in bulk and save the individual commission fees to brokerages. Besides it is amazing how incredibly few professional six-figure salary men masqerading as "managers" manage to beat the indexes (or the chimp with darts for that matter!) No wonder they are reluctant to add on simple index funds---take away all their fun, their excuse for fat fees, and show them up to boot? No way. Thanks for the references though, as far as existing funds go, the internet sector just might do it again this year...I can't think of any other sector so poised for growth and attention. Actually I was only looking for a Nasdaq fund to use as a hedge for a financially illiterate and conservative family member.
For myself, I'm trying to figure out which of the online brokers is most reliable, reputable, and fast. Why should the institutionalized have all the fun! Also, I am serious about this idea of putting together a new index fund in 1999. Time's awastin' and you just KNOW it would snowball. How do you think Vanguard, and the Internet fund itself, were launched. How about it you lurkers out there? Chime in while it's early in the year. A good webmaster will be necessary to plant the links and help with net PR. YES, seriously. |
