On Jul 15, 2008, at 11:20 PM, Sabri Oncu wrote:
No, but it's basically the average.
We have a disagreement: they are pretty smart in my view!
Most of them know what they are doing quite well. It is us who give
our money to their management who are basically the average. <...>
These prospectuses are not written to be
understood in the first place, nor those who write them really
understand what the heck they are writing that well.
If I may: the point is that their performance is average (and here I
am talking about the average fund manager). We, who give them our
money, are suckers. They, as you point out, are plenty smart, but,
intentionally or unintentionally, they do not achieve the stated
objective (of maximising the returns on our investment).
PS: I am 100% in the US Treasury bonds. Well, not quite! Because I
have a some money in an anti-dollar account too and over the past two
years my return in that anti-dollar account is way better than 30%.
How many hedge funds brought that much in the past two years?
Ha! Apart from CDs and fixed interest rate savings account(s), my
meagre savings went into Apple stock in 2006 which I sold in early
2008. Return over two year period: 100%. ;-) Now, if my savings hadn't
been meagre, I would be able to retire now!!! ;-)
--ravi
_______________________________________________
pen-l mailing list
[email protected]
https://lists.csuchico.edu/mailman/listinfo/pen-l
