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To: Knighty Tin who wrote (102293)	2/17/1999 11:55:00 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 176388

* OT * Thanks, Michael. Your response is appreciated. When I first began investing I used the passive mutual fund approach, and it only took me a year to see that 6 of 7 didn't meet the appreciation of the broader index. The s&p500 index funds impressed me because of their diversity, with most of these Blue Chips having a significant portion of their sales in foreign markets, no load or surrender fees, >.2% management fee, and low turn over. Best of all I wasn't dependent on the money managers, who change seats too often. I learned this lesson when Fidelity turned Magellan over to to Jeff Vinik. Imho every new investor should start with an index fund - it's a no brainer and it gets them in tune with the overall market. Frank btw, to the best of my knowledge, index funds outperform 6 of 7 actively managed funds even in down markets.