What Works on Wall Street (O'Shaugnessy) Message Board

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Strategies & Market Trends : What Works on Wall Street (O'Shaugnessy)

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To: Brian Channon who wrote (23)	2/25/1997 2:12:00 PM
From: sea_biscuit	of 109

Brian: Regarding the tax-bite, it is the Cornerstone _Growth_ Fund that is likely to exhibit a 100% (or near 100%) portfolio turnover. The _Value_ fund would probably show a turnover in the 20% to 30% range. I am basing this on the info given in Knowles and Petty's "Dividend Investor", where they track the turnover ratio of the Dow 10 (if I remember right, the average portfolio turnover rate there was 28% for the years 1973 - 1992). So it would be better to position the Growth Fund in an IRA, and keep the Value Fund in a regular account. Also, since I am far less sure of the Growth strategy than the Value strategy, I would go this way. The government limits my annual IRA contribution to $2000, and that would prevent me from going overboard with the Growth strategy, which admittedly, looks more exciting that the "boring" Value strategy! Dipy.

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