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Politics : Ask Michael Burke

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To: Bill F. who wrote (53775)	3/29/1999 11:04:00 AM
From: Knighty Tin	Read Replies (1) of 132070

Bill, I have long contended that nobody I ever knew in the money management business ever did any window dressing. Certainly nobody I worked with, and, since at many firms I was a backup trader as well as a PM, I would have noticed. It just doesn't make sense. If you have had a bad year, nobody cares that you now have last year's winners in your portfolio. Conversely, if you had a great year, nobody cares that you have last year's losers. It is a return game, not a photo op game. I think a lot of what is called window dressing is really mutual funds with a history of cap gains distributions doing swaps to realize some gains. The rest is media fantasy. MB

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