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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (7285)	9/24/2002 2:36:36 PM
From: Jim Willie CB	Read Replies (3) \| Respond to of 89467

another responsible interview on CNBC, despite Haines some guest came on to discuss a book "Mutual Fund Trap" the author was formerly an under-secretary of something like Attorney General or Justice, I cannot remember his main point is that mutual funds are loaded with costs that drag on performance, such as load fees, capital gains taxes from turnover, high mgmt salaries and staff he claims that since 1990, mutual funds underperformed index funds by 7% host Haines was somewhat sarcastic in tone he seemed superior and rude he asked if guys like guest host Ned Reilly of StateSteet were not doing their jobs, feeding off the public Ned Reilly stepped in and confirmed the author's point, and added one more Ned said that many mutual fund investors abandon last year's losers, jump on last year's winners, only to find the former winners to be next year's losers, thus adding to underperformance on an even larger scale Ned suggested sticking with a favorite fund for years, not swapping around, chasing Haines was taken aback, as though he was unaware of mutual fund underperformance the guest author reiterated his points Haines was made to look arrogant, rude, stupid bad combination my firm offers a poor set of 401k choices, no gold funds / jim