Re: [RT] MUTUAL FUNDS: 2% STRF

["Charles Meyer" <chaze@xxxxxxxx>]

Dan-
 
Please; what are you saying you have to pay, when, 
and how much?
 
chas
<BLOCKQUOTE 
>
  ----- Original Message ----- 
  <DIV 
  >From: 
  Dan 
  Goncharoff 
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="">realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Thursday, March 18, 2004 12:44 
  PM
  Subject: Re: [RT] MUTUAL FUNDS: 2% 
  STRF
  If I understand your friend correctly, he thinks a rule 
  intended to restrict short term trading in mutual funds should allow him to 
  sell his fund in five days, but I should pay a fee when I readjust my fund 
  portfolio on a monthly basis.I don't think you friend understands the 
  problem.RegardsDanGCharles Meyer wrote:
  
    
    

    A friend of mine posted this eloquent statement 
    to the SEC website.
     
    Chas
    ====
    
     
    
    <SPAN 
    >Your proposed 
    regulation of a 2 percent short term redemption fee for purchased mutual 
    funds held less than 5 days is a perfect way for you to punish individual 
    investors while enriching the crooked fund companies that have allowed 
    excessive trading for a few which is prohibited by their 
    prospectuses.
    <SPAN 
    > 
    <SPAN 
    >While I rarely sell 
    newly purchased funds within 5 days, I do have a stop loss discipline that 
    causes me to exit a position if the market should go strongly against my 
    entry point.  The fact that you would seek to penalize me when this 
    situation does occur adds to losses I will sustain.  The idea that I 
    should somehow be forced to hold a position in the face of a plunging market 
    is truely offensive to me.  Dont you understand that it is important to 
    manage risk in ones portfolio?  
    <SPAN 
    > 
    <SPAN 
    >Some funds have a 
    rule that says investors are allowed only four buy/sell transactions in a 
    fund per year.  I find a rule such as this entirely reasonable.  
    It addresses the problem of excessive trading while neither punishing the 
    individual investor for selling when markets decline nor enriching the fund 
    companies at the expense of the investor.  Please consider a more 
    neutral rule such as this.  
    <SPAN 
    > 
    <SPAN 
    ><FONT 
    face=Arial color=navy size=2><SPAN 
    > 
    <DIV 
    >
    <SPAN 
    > 
    
    <SPAN 
    >Hi-
    
    <SPAN 
    > 
    
    <SPAN 
    >I read this morning on my DTN 
    screen that the SEC is taking public comments on this proposal 
    through May 10:  2% short
    
    <SPAN 
    >term redemption fee on any 
    mutual fund held < five days.  (<A 
    href="">www.sec.gov)
    
    <SPAN 
    > 
    
    <SPAN 
    >It would appear that 
    investors might have until June maybe before they will know what's 
    going to happen on this issue.
    
    <SPAN 
    > 
    
    <SPAN 
    >Chas







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