They're run by the same management team, and their argument for choosing airline stocks is that air travel is likely to build over time. I guess this goes to show how even that well-built hypothesis can be vulnerable.
More Quotes from Scott Cooley:
To the extent that fund companies had operations in the World Trade Center, they typically have backup files, so there shouldn't be any problems. Beyond that, the question is what happened to key investment personnel, and the initial response seems to be good. Oppenheimer Funds had offices in that building, and most of their personnel seems to be accounted for. And all personnel from Salomon Smith Barney was evacuated from 7 World Trade Center before it collapsed.Scott Cooley
This year, with the Fed cutting rates, people are getting bullish on the prospects of these companies making their debt payments.
Scott Cooley
A mentality has set in that you should never get help with your finances. But some people would benefit.
Scott Cooley
They just don't make sense for (small investors). They'll get eaten up by the commissions.
Scott Cooley
I think there is an increasing recognition at Fidelity that fund size can really harm performance. If they are too big it can be pretty tough to reposition a portfolio. That is something Fidelity didn't acknowledge a few years ago.
Scott Cooley
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