Webster defines Odds and Ends as different kinds of things that are usually small and unimportant. I would prefer to define them as sort of important. I’ll use this format for issues that I cannot justify an entire article on. So expect Odds and Ends II at some point.
If you buy a mutual fund you are not buying a money manager, you are buying an objective manager. Let me explain. Many, if not most will choose a mutual fund based upon its performance over a period of time or the victim of exceptional marketing. Too often I think the period of performance is void of bear markets such as the last 7 years. This does not give a valid representation of the fund’s performance over the long run. The fund rating companies show 3-year, 5-year, 10-year, and since inception or at least close to those. Many funds have only been in existence much less than the 10-year time period. Okay, I drifted off subject.
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