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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (84663)	10/29/2000 11:07:28 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

ild, there is definitely seasonality in individual stocks and even in industries, though less so. There is no seasonality in the markets that are outside of reasonable statistical expectations. Money managers do not sell losers to offset capital gains. Since most investors reinvest cap gains, and all IRA and Keough accounts have no choice, the funds do not lose much of the money. But they do gain a lot of excitement from shareholders who don't know any better when they pay a big cap gains distribution. Some newbies have even asked me what a fund's "yield" was, considering those 10-15% payouts, in some cases, yields, not realizing the funds decline by the amount of the payout. The lobotomy comment was me trying to be funny about the mental condition of the current crop of PMs. When you said what you would have done if you were a PM, I said that you might have done something different, because you would have had to have had a lobotomy to get a job. No insult to you intended. Insults to fund managers very much intended. <g>