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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (2677)	1/3/1999 11:25:00 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 15132

Marc: "By the way as a general issue it has been pointed out that Index funds actually outperform more than it seems because truly poor managed funds tend to lose their assets and get closed down or merged and thus the worst losers often don't even get figured in to the calculations." Managed funds also lose their managers routinely whereby the index funds can not by their nature lose anything by losing their manager. This is one reason why I have chosen to manage my own portfolio through individual stock selection over using managed funds. I will not move on to another firm and leave my portfolio to languish. I will only pay a fair price for stocks instead of becoming awash in liquidity and then having to buy stuff that is priced highly relative to its prospects out of fear of being left behind. And I will not liquidate part of my portfolio in times of turmoil in anticipation of redemptions by myself.