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Things are not exactly the way they may seem to be (as usual). The attached
chart shows the long term curves of 2 leading mutual funds compared to the
Nasdaq Composite Index.
Notice how the fund curves are virtually identical to the market! Only the
scale factors are different. Basically everytime the market tanks so do the
funds. So the managers get paid the big bucks for doing something - but I'm
not sure what.
Question: Is anyone aware of a no-load growth mutual fund out there where
they actually sell out on the way up, or near the top, instead of enduring a
nasty decline with the overall market? I don't need a fund that sits on
stocks as they get hammered, I can do that myself!
Best rgds,
Phil
Attachment Converted: "c:\program files\qualcomm\eudora\attach\mutual.gif"
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