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Alliancebernstein Income Fund Message Board

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  • Wriskit Wriskit Aug 19, 2001 2:57 AM Flag

    ACG Management Deception

    Well, ACG should be at the top of your risk pyramid. But the purpose of fixed income investments is to minimize risk. A lot of yield-chasing people have been burned in junk bond funds recently. And as far as ACG's facility with leveraging and hedging, they've been both off-and-on with their average returns not much better than the low-risk funds, so I call them presently lucky rather than good. Do you remember a couple of years ago when those hot-shot Nobel prize-winning mathematical economists created a fund for millionaires with their can't-miss automated computer programs to hedge currencies and other deriviatives? They almost brought down the world banking system and taught a lot of millionaires an expensive lesson. The downside risk of leveraging is greater than the upside gain probability. Since you are in research, you are aware that the key element is time. Its just amazing what compounding does in those later years if you only stay the course. Good luck to you in your investments.

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