Not all Internet funds are equal
From The Wall Street Journal
Internet funds may look similar but they vary in risk and volatility. A study, set to be released Friday, from Leah Modigliani, a Morgan Stanley Dean Witter stock strategist looked at 18 US-oriented stock funds that returned 150% or more in 1999, all with at least three-year track records. Her conclusion, investors in any one of the funds had better brace for ups-and-downs. All of the portfolios lost more money in some months than the Standard & Poor 500 ever did in a single month from 1997 to 1999. The Dresdner RCM Global Technology Fund fared the best under bad times with a 16.4% loss. The riskiest, the Internet Fund which was down 30.7% at its worst.
Schwab's business booms
Charles Schwab reported that January daily trades in the
Mutual Fund OneSource program jumped 52% over the previous month. Average daily
trades of nearly 81,000 also proved to be 43% higher than the same period last
year. The online broker also reported that total customer daily average trades
for all Schwab services added up to 379,000 -- up 32% from December and up 58%
from January 1999.
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