This is a consolidation period in the industry, both in terms of staffing and the number of funds. We've seen a lot of fund mergers recently and some layoffs.
More Quotes from Russ Kinnel:
In general, the fund industry can do better.Russ Kinnel
They're selling a little, but their technology weightings are still way ahead of where they were six or nine months ago,
Russ Kinnel
If someone has the guts to stick it out (in a loser fund), you shouldn't punish them. You should take care of your shareholders. That way you're practicing what you're preaching.
Russ Kinnel
In the past, all bond fund blowups were interest-rate related.
Russ Kinnel
One of the worst things you can do is buy funds based on the returns of the last six months, ... Reason seems to have taken a vacation with these (Internet) stocks.
Russ Kinnel
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