Russel Kinnel Quotes (22 Quotes)

When gold and Russia and India are the top-performing sectors, that's a dangerous space to be investing in.

You have to ask yourself why you should trust the fund company.

Most active managers are investing in what they think is a sure thing rather than their best speculative ideas. Nobody is out there trying to be a hero right now.

You have a very conservative strategy even though the bond stake isn't great. They're not going to stretch to produce yield.

It's a good strategy, a good manager, just not a very appealing wrapper.

I don't see it having a big impact. The whole point of mutual funds is to avoid the Wall Street bias and most shops have their own in-house research. Big firms, like a Fidelity, have 200 professionals across the world so they never cared about the Street research to begin with.

Generally, what you'll find is a pretty normal distribution (among socially responsible mutual funds). As far as I can tell, those screens don't have an impact positively or negatively on performance.

A tax-managed fund is simply a fund who's goal it is to maximize after-tax returns, whereas most funds are focused on pretax returns, ... I think the one thing that probably all of them have is the idea of selling losers to offset gains. If you've just realized profits on one stock you'll sell a few dogs.

These are funds you can buy and not worry much about. They're well run, and you can depend on that year in and year out.

He's a very sharp guy who did a really good job at Mutual Series. They got points for not giving up on their strategy during the growth boom and tossing aside dividends and balance sheet analysis.

This category has performed very well. It's one of the best and most innovative things the fund industry has come up with and partly that's because they do such a crummy job with the rest of their funds on taxes.

Putnam is in the early stages of a restructuring effort aimed at providing better, more reliable performance. It may be years before Putnam funds have a lot of appeal. Stock-picking skill and experience aren't changed overnight. Even if Haldeman and (head of research Josh) Brooks succeed, it will be years before their changes can markedly improve investment results.

If you thought you were the only one having a hard time finding a good small-cap fund, foreign or domestic, that was still open and not too bloated from assets, think again.

Fidelity bases its IPO allocation policy entirely on asset size and that's the way it should be,

Some of the best performers for the bear market had an awful quarter and some of the worst performers during the bear market had a good quarter.

Despite those amazing returns, by and large all those funds really did was lose money for a lot of people. One of the main points of owning a mutual fund is to be able to access high-quality professional management. But you are throwing that away when you buy funds like these with some manager who just happened to get lucky.

And not just to look at those two options either, ... If they can't get good management at modest cost, then liquidation is a good option too.

Lange's style -- which includes more foreign and smaller companies -- has resulted in a portfolio that doesn't track the SP so closely, and his beta was 1.23. No one would accuse Lange as a closet indexer, ... He's done an awesome job at Capital Appreciation.

Utilities and real estate are pretty narrow sectors. And real estate has had such a run, I would be hesitant to add more at this point. So I generally recommend diversified dividend plays.

Generally you go with a manager who has a meaningful track record somewhere. It doesn't guarantee this is a smart or good manager, but at least it said I've got a few years and I can learn a lot from that.

Among bond funds, portfolios heavy on high yield did an about-face, with the average fund in this group up 5.4 percent in the quarter. Last year people got panicky about corporate debt because of Enron and WorldCom, ... The spread (between government and corporate bonds) got too big and the market reversed.

High costs, the lack of an age-based option and poor investment choices make these options unappealing on almost every level.