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Alliancebernstein Income Fund Message Board

  • hirsct hirsct Nov 19, 2003 9:43 PM Flag

    Captain, keep things simple

    Open-end mutual funds steal money from investors because;
    1) they sell at lows because of redemption requests
    2) they buy at highs because of demand for shares
    3) they incure transaction costs as fund managers attempt to pick CNBC stocks to add to portfolio and non-CNBC stocks to shed from portfolios
    4) all fund managers, repeat ALL fund managers are assholes
    5) new development: fund managers are also criminals
    We've entered the golden era of cef's.

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