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

To: BGR who wrote (60794)	5/26/1999 5:33:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

BGR, The numbers tell me there are lots of lousy fund managers out there, which I already knew. Many of them get so bad, they become index fund "managers." But if you get one of the good ones, the difference in your returns are well worth the effort. For example, for the 20 years ending in in 1998, $10,000 in the S&P 500 with everything reinvested got you about $255,00. If you were smart enough to buy a superior fund manager at a discount, General American Investors, you had $410,000. And folks in 1979 KNEW that GAM was a superior fund manager. So, the average cannot outperform the average. But finding the consistently above average to manage your money, if you cannot do it that well yourself, definitely pays off.