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Strategies & Market Trends : Value Investing

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To: TAPDOG who wrote (6047)2/16/1999 11:12:00 PM
From: MCsweet  Read Replies (1) of 78516
 
EQS

I think it is cheap for a few reasons:

1. Perception of relatively high fees
(although I think the fees have been going down recently)
2. Terrible one-year performance
(-39.5% return for the last year in the midst of a bull market)
3. Related to 2, it has owned small-caps like dypr and oils that
have performed horrendously. DYPR had some bad news recently
and is near its all-time lows.
4. I believe that historically the discount has always been fairly
high.

For the contrarian now might be a good time to buy,
but I am not totally convinced.

MC
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