Fundsters helping put together shareholder communications may want to take a look at Chuck Jaffe's latest piece. Yesterday the
MarketWatch columnist
gave readers a list of things "you don't want to hear from" mutual fund PMs.
The warning-bell-inducing phrases include: "We underestimated the risk," "We're cautiously optimistic," "If you take the long view of our performance," "Investors can take their money elsewhere," "No one is forcing investors to stay," "This is the worst bear market we've seen since," and "It's a challenging market right now." 
Edited by:
Neil Anderson, Managing Editor
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