Ravi:
> 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). There is no disagreement between the two of us Ravi. Once I gave a talk to a Wall Street audience, saying exactly what you said, and they hated me after that talk. But, Pension Funds make their money from the fees they collect, not from the returns they bring. > 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!! Hey! Maybe we should start a hedge fund together? From where can we raise a few billion dollars to begin with? Do you know anything about leveraging? Best, Sabri _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
