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FYI: Most of us pick mutual funds like hormone driven high school kids. We just don’t realize that we’re drawn to the bad boy or girl--the hot ticket to fun. Many financial advisors and finance writers are much like our former knuckleheaded high school friends. “Oh, so hot!” they chime. “You’ve got to go for it.” Regards, Ted https://assetbuilder.com/knowledge-center/articles/the-best-mutual-funds-to-buy-right-now!
Nevertheless, Money, Kiplingers, U.S. News, and all the other mags will have their list of funds to buy NOW. It must sell magazines, but it is shoddy journalism.
While I tend to agree with you, on the flip side there are people like Bill Miller ...
No not this Bill Miller: (Amex commercial : Do you know me? - sorry, no video)
But Bill Miller of LMVTX, when it was called Legg Mason, he of the 15 year S&P-beating record. Perhaps it's 20/20 hindsight, but he's been described as "the poster boy for star managers letting their egos take over while their performance suffers, believing that they can somehow bend the market to the power of their will and their investment style."
I'd throw another Bill into that select group: Gross. The Fidelity managers you named seem different, at least in the sense that they're not so self-promoting. But as I said, hindsight is perfect.
"5. This time is different: Since the horrible losing streak, Mr. Miller has read a pile of books and research papers about crises in hopes of getting a better grip on what happened. That should do the trick."
Nevertheless, Money, Kiplingers, U.S. News, and all the other mags will have their list of funds to buy NOW. It must sell magazines, but it is shoddy journalism.
Hi Bob....I have a soft spot for Kiplingers.
About 30 years ago, my dad bought me a subscription to that magazine. It served as the starting point for learning about the need to save serious money, and how to go about investing.
It may not be the most sophisticated source of information, but it fills a need and provides needed information to many. It truly provided a benefit to me, and still does.
Comments
No not this Bill Miller: (Amex commercial : Do you know me? - sorry, no video)
But Bill Miller of LMVTX, when it was called Legg Mason, he of the 15 year S&P-beating record. Perhaps it's 20/20 hindsight, but he's been described as "the poster boy for star managers letting their egos take over while their performance suffers, believing that they can somehow bend the market to the power of their will and their investment style."
I'd throw another Bill into that select group: Gross. The Fidelity managers you named seem different, at least in the sense that they're not so self-promoting. But as I said, hindsight is perfect.
"5. This time is different:
Since the horrible losing streak, Mr. Miller has read a pile of books and research papers about crises in hopes of getting a better grip on what happened.
That should do the trick."
http://thereformedbroker.com/2014/06/30/everything-wrong-with-investor-behavior-in-one-article/
About 30 years ago, my dad bought me a subscription to that magazine. It served as the starting point for learning about the need to save serious money, and how to go about investing.
It may not be the most sophisticated source of information, but it fills a need and provides needed information to many. It truly provided a benefit to me, and still does.
press