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

To: Knighty Tin who wrote (96332)	6/27/2002 12:42:11 PM
From: Knighty Tin	Respond to of 132070

To All, way too short term for BGR, but I just noted the short term results. 7 of the ten largest equity funds have outperformed Vanguard's low fee 500 index fund this year to date. Some by a huge amount. Ditto for 1 full year performance. All of them sucked. The 2 that couldn't even beat the index were Magellan and American Growth. I don't quite get the big bond fund comparison, with PIMCO and Vanguard GNMA competing with Franklin's California Muni fund. But, as expected, the low fee, brain dead funds from Vanguard did very well in the bond category. There is less value added edge to bonds than large cap stocks. And less edge to large cap than mid or small cap stocks. All of which seems logical.

To: Knighty Tin who wrote (96332)	6/27/2002 12:55:45 PM
From: BGR	Read Replies (2) \| Respond to of 132070

KT, The point, however, is that taxes and inflation apply to both trading and indexing, and hence is a moot point. In fact, because of taxation rules, indexing is a favorable option for many. So, it suffices to stick to measuring relative performance for trading vs. investing, ignoring taxes and inflation. But I suspect that you realize that all along. So, you are a lazy bum. Tell me this then, how many active traders do you know, and how many of them have made their billions? Please don't tell me that you only know lazy bums. -BGR.