Posted
5:55 PM
by Gene
How to $ELL mutual funds:Bold: The mutual fund industry is one of the most inefficient I have ever seen. Putnam Fund for Growth & Income, a large value fund, has been in the bottom 5% of all funds in its category for the past decade, yet still has almost $6 billion invested in it. If it were a horse, it would already be glue.Glue? That horse is Secretariat!
Wiener: Can you spell L-O-A-D? As in a 5.75% front-end and a 25 bp 12b-1. Putnam funds are not bought--they are sold.They take it in the front end and pull the investors out through the rear. Apt terminology.