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Technology Stocks : Stock Swap
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To: Logain Ablar who wrote (16482)5/2/1999 5:48:00 AM
From: Patrick Slevin   of 17305
 
< 90% of funds underperformed>

That's roughly what I read, I believe. Although it may not be fair to measure each Fund against the SnP it's quite a psychological issue.

After all, it you had a choice to put your at-risk capital in the hands of a Money Manager or in a S&P Index and you knew the odds were 9 in 10 that you would do better in the Index it's likely that you would avoid the Fund Manager.

I think that puts some pressure on them particularly near the end of any given quarter.

OT

Golf is fine here (Northern New Jersey), there was a delayed start today because of some frost but our greens are covered in the winter. We had some problems a few years back when we almost lost a couple of greens to "black ice". So now they are not played until the weather breaks.

You don't want to lose a green. There is a proposal afoot to build a new 18th Green. Cost, approximately $250,000. So even if you "only" had to rebuild or repair one do to winter damage it could be a tidy sum. The delay alone would be months. We rebuilt 3 tees over the winter. They started in November and the last of the three just opened for the first time yesterday. And of course there is considerable time spent planning and diverting funds so it's possible that losing a green would wipe out an entire season...major problem for any course that has any income from Outings.
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