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4 pillrs

chap 11

QuestionAnswer
successful mgrs lucky, not skilled, not much different than lottery winners,
jane bryant lables financial writings as financial pornography, alluring but lacking in any value
there are no gurus, no money masters true
why do journalists write this stuff if there are no gurus? lack of knowledge, many writers cannot crunch their own numbers and really understand what they are writing about.
journal of finance, journal of portfolio management scholarly finance literature.
good journalists do understand the futility of market timing and analysis the problem is they need to eat and they have to write something.
How do most investors pick their mutual funds and brokers? on the basis of press coverage
glowing money market story can move vast amounts of capital this is the same as it would work for a rave review on a car.
mission of most mutual funds the extraction of fees from their clients
confessions of a former mutual funds reporter (1999 issue of fortune)an anonymous writer wrote we were preaching buy and hold not index funds because it does not drive up the ratings, the article also said that most port mgrs, brokers, analyst and hedge fund mgrs invest in index funds.
better off ignoring the entire jandra print, television and Internet, there are a few truth tellers but most is a sesspool of lies.
beat the S& P with our 5 top ranked funds by worth magazine, picked funds because of the favorable impression of the managers and their techniques. avg rtn was 21% Vs. 33% of S&P 500
Forbes Honor Roll Most prestigious fund ranking system, to make this list you must have good management and also above returns in bare markets, Their funds do slightly better than average but not better than the market. However, funds change rapidly, no consis perf
Created by: delorya
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