Van Wagoner Funds Message Board

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Strategies & Market Trends : Van Wagoner Funds

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To: Allen Salo who wrote (17)	2/5/1997 7:27:00 PM
From: Benjamin W. Palmer	of 76

Not to butt in, but I'd like others' oninions on the VW funds also. I did fine with him at Govett and he really navigated the tough 1994 market with great skill. Since the start of the new funds, I am less confident and I am particularly concerned that all the funds (including Post Venture (in which I took a position at the start) rise and fall together. In other words, there seems to be no diversification, even if one owns 2 or 3 of VW's funds. I believe that there may be too much reliance on hot tech stocks and not enough good stock picking going on. It may well be true that many good managers cannot handle a big influx of cash and that they have a limited number of good ideas for their buys. Redemptions also hurt the open-ended fund manager a great deal. Compare other micro-cap funds with VW's and VW does not inspire respect.

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