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Technology Stocks : PERVASIVE SOFTWARE (PVSW) -- Ignore unavailable to you. Want to Upgrade?

To: TraderTerry who wrote (274)	12/10/1999 1:47:00 PM
From: Lane Hall-Witt	Read Replies (1) \| Respond to of 529

Ouch! It makes me sick whenever I hear stories like that. The mutual-fund industry really disgusts me. Fund managers are such followers: they do almost no original research, new thinking, or innovative investing. The financial media too often blames the mo-mo market on daytraders, but they ought to point their fingers at the fundies -- who buy the same Nifty stocks over and over and over again simply because they can't generate any other ideas. Sell oil at the bottom . . . buy tech just in time for the summer swoon. Horrifying! I'm impressed that at least the fundies are starting to figure out how dull and stupid they really are: even the "actively managed" funds are doing more and more to match the index funds. It's not that hard to send the Nasdaq to the moon if the only stocks you know to buy are the Nifty stocks that constitute most of the index. Sheesh--. Sorry to vent, but I've been waiting a long time for those sorry saps over at Barron's to write an expose on the fund industry -- which of course they can't do, but I still keep hoping for it!