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

To: Bernie Goldberg who wrote (14709)	2/2/2001 4:11:20 AM
From: Gemlaoshi	Read Replies (1) \| Respond to of 18928

Hi Bernie, The information is not mine - it belongs to Morningstar! I apologize for accidently barging into the middle of the conversation between you and Todd, but my points remain the same. Profunds are extremely small (BLPIX = $23million) as funds go, and have extremely high portfolio turnover rates (BLPIX = 1288%). Such high turnover rates increase transaction costs, which are reflected in the fund's higher expense ratio. Bogle got no respect from Wall Street during the early days of Vangard. But when you have $89 Billion (VFINX) in a fund and only a 6% turnover, it stands to reason that you can have a much lower expense ratio and still rake in millions each year in management fees! John Bogle has become very wealthy advocating this very simple investment concept. Dave