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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (2966)	10/17/2001 9:26:25 PM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 36161

Slider, I see no reason to restrict fund managers. Give 'em a little room and they'll do themselves in. The key assumption in your comment >>the near instantaneous disemination of news to all market participants<< needs more comment: No one said the news that's so easily disseminated is either accurate or relevant. In fact, a lot of the stuff is of very poor quality. The restrictions on fund managers are usually built into the fund prospectus. That can't be changed without a vote of the fund shareholders. Or in the case of a pension fund, approval of the fund trustees. The larger a fund becomes, the more closely its performance will track the markets in general. This isn't necessarily due to any restrictions on fund operations other than sheer size. If you run a $10 billion fund (not even very big these days), you can't go around buying stock in small capitalization companies without wreaking havoc in the stock price. Individuals in theory can do better, provided that they have information sources IN ADDITION TO those generally available to fund managers. Peter Lynch wrote the book on this, and his ideas are good guides for individuals. Art