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Importantly, the core equity options contain less risk than the index, as measured by standard deviation....Do any of you Fools speak MutualFundAdvisorEse?

Wouldn't want to try, but I think in this case the use of the word "options" is an unfortunate one, because it can mean something else, and the word spectrum would have been better. Most funds set some kind of guidelines on the kinds of stocks that the funds managers can invest in: market cap over a billion, price not less than 5, etc. I think by "core equity options" this advisor was refering to the parameters guiding the funds investments. I would love to be proven wrong, though--maybe someone else has more information.

Also, when the advisor says "as measured by the standard deviation" he isn't telling you much unless you know over what timeframe, and if the Fund has adhered to those parameters over that same frame. Less risk over the past ten years, for instance, doesn't mean much if the fund has been only alive, with the same investment parameters, for four years. It's easy to construct a winning investment strategy in hindsight.

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