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Fund Managers Who Called Oil Debacle Say They'll Stay Away For Years
FYI: A number of mutual fund managers who dumped their shares in energy companies before oil slid to 12-year lows now see themselves avoiding the sector for years to come rather than picking up shares trading at their cheapest levels in years. Regards, Ted http://www.reuters.com/article/energy-funds-idUSL2N1552J0
The article is ridiculous. Tanaka has only about $17 million with a 2.45% expense ratio, while Polen, Jensen, and Destra (another teeny one) never owned any energy stocks. And the reference to Doll's Nuveen fund...he wasn't even part of Nuveen until the 2013 referenced date. This is such poor journalistic research. They could have at least attempted to find a major fund/manager who has actually made big changes.
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Regards,
Ted