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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: LemonHead who wrote (14005)	12/19/2000 9:51:51 PM
From: matvest	Respond to of 18928

Thanks Keith for a very thoughtful post. Larry M

To: LemonHead who wrote (14005)	12/20/2000 9:24:24 AM
From: OldAIMGuy	Read Replies (1) \| Respond to of 18928

Hi Keith, I think I've just decided to put you in charge of Archives!! :-) Thanks for that review. As you've seen in my own histories, my mutual funds haven't always been as hot as some of my stocks, but neither do they turn as cold, either. The overall effect is that a well managed fund is tough to beat in a market that has some cycles. My IRA which is all mutual funds has rarely had a bad year since starting AIM in 1990. aim-users.com I'm not sure that Y2K is going to be its best year, but then it is also the first year that any changes were made to the overall structure of the account. For the first ten years, the IRA was invested in just one mutual fund. Then last year (in October, I think) I split out a portion of the IRA into a sister fund, a smaller, and more growth oriented fund. The original fund had become a bit stodgy and "large cap" for AIM. This new fund, however, seemed to have plenty of volatility for AIM. Overall the move seems to have revitalized the account. My timing wasn't bad, but the new fund's personality and rules were slightly different from the older fund, so my management has taken a bit of learning to get right. There's still a bit of dry powder left for the IRA and chances are we'll be firing off a few salvos in the very near future. Your comment about handling one's own account as though it's a dear friend's account is a significant one. I've always felt that one should manage investments as though one is acting as a professional fiduciary. For better or worse, a fiduciary has the dual role of responsible action for the client while attempting to be competitive with the market's own performance. We have here in Wisconsin what are termed "Prudent Person" laws which govern fiduciary activity. If one stays inside the boundaries of these laws one is most likely to survive any litigation brought on by a client. Stray from it and one becomes financially liable for losses incurred! If we managed our own money as though someone would sue us if we messed up, we would certainly look at RISK differently! So it's a double edged sword. (1) Perform well or be fired; (2) Be responsible or get sued! It's a tough job to balance those two! AIM, by the way, fits very well with Wisconsin's Prudent Person statutes. Thanks again and Happy Holidays, Tom