Mid-cap and large-cap growth funds tend to have a lot of technology stocks and biotech stocks, and biotech stocks have really gotten pummeled too. It seems like there's been a flight from anything perceived to be risky.
More Quotes from Scott Cooley:
I think we saw a taste of what could happen in July, when a brief and moderate correction caused this fund to lose nearly 7 percent, about twice the loss suffered from the average conservatively managed large-cap fund.Scott Cooley
Any time you let a stock run up to 40 percent of your portfolio, you have to have a lot of convictions. There aren't a lot of funds like this.
Scott Cooley
A mentality has set in that you should never get help with your finances. But some people would benefit.
Scott Cooley
Nearly everything that had done well in 1999 has done poorly this year, and vice versa. I think the problem is perception lags reality with investors. Throughout this year, we've seen strong flows into technology and growth funds, and the stocks haven't done well. You wonder when investors will start chasing performance and go to value.
Scott Cooley
When you think back in the last couple of years, there have been so many unexpected twists and turns in the market. It really makes sense to stay diversified.
Scott Cooley
It's fine to make a bet on a sector, but you should know what bets you're making. The biggest lesson this year is diversification. What that means right now is to have exposure to a lot of major market sectors and not just chase health care because it did well.
Scott Cooley
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Based on Topics: Computers & Technology QuotesBased on Keywords: mid-cap, pummeled
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