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Old 09-30-2008, 07:02 PM   #41
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Just found this thread and had a noobie question.

I'm comparing FDFAX, and VDC. Just looking at the expense VDC is the clear winner (I think?). Now doing random internet searches I noticed lots of people claim Fidelity is more active than Vanguard when it comes to watching over their funds. Does that have any truth to it?
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Old 09-30-2008, 08:22 PM   #42
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And is that a good thing or a bad thing?
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Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Old 09-30-2008, 08:30 PM   #43
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And is that a good thing or a bad thing?
Was that directed towards me? If so I would assume being more active is better, but I have been known to be wrong quite often . Is that even something to think about?
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Old 09-30-2008, 08:43 PM   #44
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Was that directed towards me? If so I would assume being more active is better, but I have been known to be wrong quite often . Is that even something to think about?
More active means higher fees, higher taxable events, and usually - worse performance (when compared with an index fund of equivalent volatility).

more here:

(FAQ archive): Invididual Stocks vs. Funds/Active Funds vs. Passive Funds

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Old 09-30-2008, 09:12 PM   #45
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One of those little paradoxes of investing. Experts messing with money produces worse results the vast majority of the time than just making a bunch of dartboard picks and sticking with them.

Unless your investing expert is Buffet, Soros, Lynch or up until recently, Bill Miller.

Anyone else notice how Millers Value Trust Fund has been absolutely punched in the face the last two years? He's already unraveled himself to trailing the S&P500 over 1, 3, 5, and 10 years. Another bad year and he'll undo 15 years of beating the index.
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Old 09-30-2008, 11:22 PM   #46
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One of those little paradoxes of investing. Experts messing with money produces worse results the vast majority of the time than just making a bunch of dartboard picks and sticking with them.

Unless your investing expert is Buffet, Soros, Lynch or up until recently, Bill Miller.

Anyone else notice how Millers Value Trust Fund has been absolutely punched in the face the last two years? He's already unraveled himself to trailing the S&P500 over 1, 3, 5, and 10 years. Another bad year and he'll undo 15 years of beating the index.
Yep, he was riding that wave and now it's crashing down. He was extraordinarily right for quite some time though, eh? And the longer that "track record" got, the more people probably piled into it (it's not closed, is it?), and now they're wondering why it went so wrong.
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Old 10-01-2008, 08:15 AM   #47
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He picked huge winners at about the right times. But considering the number of fund managers and funds, far more of them should have accidentally bought dell, amazon, google and the rest at just about the right time and beaten the market.

Yet theres only a small number, and almost always for a very short time.
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Old 10-01-2008, 11:12 AM   #48
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... and now they're wondering why it went so wrong.
Peter Lynch Success Syndrome Fund bloat.

After expense ratios, this is the #2 reason we exited mutual funds for ETFs.
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