No. of Recommendations: 0
P. S. If you want more "Classic Joel Williams", try

I am utterly amazed that the thing I wrote is still there. Brill was the worst message board ever. Remember that I wrote this in 1999.

Listen to what the fund manager says - NOT!

True, sometimes this is instructive. But consider Robert Sanborn, manager of the Oakmark Fund. For the last 2 years the fund has been a real dog, or Donald Yactman whose 2 funds are down more than 20% this year. They say (according to an article in Investors Business Daily 12/9/99) that the problem is "short-term investors who don't grasp their funds investment methodology." Listen, dudes, I don't give a rat's ass about your investment methodology. I want to make money, and you are doing a bad job of that. So expect nothing from me. And maybe you should get a job more in line with your capabilities, like licking stamps.

Harsh? Yes. But Oakmark went down, and so many people sold the fund that he had to sell a lot of stocks, including some in which he still had gains. Then the people who stayed in the find were stuck with capital gains and a reduction in share value as well.
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