I won't say there isn't a place for those kinds of funds, but I think the price risk, and the fact that they tend to be concentrated in certain sectors, can be something investors overlook when they see really great one-year numbers. People need to understand what they really do and the chances they're taking.
More Quotes from Paul Herbert:
Investors who are in an actively managed small-cap fund that has had high returns for several years and has grown in size should expect management to eventually close the fund to new investors. Two examples of funds that did this are Dreyfus Mid Cap Value and Artisan Mid Cap Value , which announced they were closing in early 2002.Paul Herbert
These sorts of funds have set themselves up to outperform by virtue of the fact that individual picks can really make a difference.
Paul Herbert
I do like the manager. It's a fund for someone to devote a little money to, but not make it a core holding.
Paul Herbert
They have a team approach to management, but the strategy has been consistent.
Paul Herbert
From 1991 to 1995, it was a very successful small-cap growth fund. As it got more attention and a greater inflow of money, it became difficult for (fund manager) Gary Pilgrim to continue focusing on small- and mid-cap stocks.
Paul Herbert
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Based on Topics: Chance Quotes, Danger & Risk Quotes, Facts Quotes, People Quotes, Place QuotesIf the blame (if there is any) can be shifted from him to me, I shall help him and our cause by taking it. I desire, therefore, that all the responsibility that can be put upon me shall go there and shall remain there.
James Longstreet
I saw a great many men die afterwards, some suffering horribly, but I do not recall any death that affected me quite so much as that of this first victim in my platoon.
Fritz Kreisler
I phoned Joe Roth, who was head of the studio at the time, and told him how beautiful the film was, and that I was fully ready to support it, that Michael's work was wonderful and I imagined that Daniel would feel the same. He listened quietly and read between the lines.
Madeleine Stowe