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Strategies & Market Trends : PBHG Funds
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To: Archie Bunker who wrote (141)3/2/1997 4:56:00 AM
From: Tom Simpson   of 268
 
Small world. I live in San Jose but I spent 95 and first half of 96 commuting between California and Asia...Bangkok and Shanghai mostly. One had to wonder at all the major Bangkok erections reaching for the sun even then. I was very favorably impressed with Shanghai. Those young Chinese are going to be a force everyone is going to have to reckon with. Reminded me of SouthEast Asia back in the 70's.

I would agree the US market still has some legs, but not a lot, and I expect the dollar will be rolling over the relative hill. Leaves me looking to drift from dollar assets towards assets based on other currencies. To the extent I've already done that, I've overweighted Europe and South America, underweighted Asia. I wish I had more choices though....I hate to buy individual stocks for all the good reasons you outlined, but there aren't all that many intl equity funds with track records much less good ones.

I suspect PBGH put their intl fund together largely for marketing reasons. There is business marketing logic to having a fund "family". You can be all of the choices in someone's 401k or 403b, and this market has exploded. You also have a wider distribution of performance figures from which to select the best tout. Fidelity always has something great to brag about. As long as Pilgrim sticks to his investment knitting I'll stick with him. They feel the pressure though. It showed up in the annual report where he plaintively pointed out he was doing the same things now as he always has.

Best Regards....Tom
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