Give me your worst performing funds!
When I trained stock brokers at Paine Webber, I was responsible for organizing lunches that mutual fund wholesalers would throw for our office brokers. During those lunches (you had to provide free food to get stock brokers to show up)they would talk about their best performing mutual funds, while we wolfed down sandwiches and tried not to appear overtly bored. Finally in an act of desperation one day, I interrupted the presentation “Let’s do something different today, ” I suggested. “Tell us about your worst performing funds. We’ve been buying your best performing funds and they all seem to turn … Read more