New PMs are kind of like new parents — extremely enthusiastic about their new babies.
So much so that many new PMs often invest heavily in the new funds they are managing, according to Morningstar
research director Russel Kinnel:
Looking at some of the shortest-tenured managers in the Morningstar 500, I was impressed by how many had already stepped up to the plate to invest sizable sums in their funds. I'll walk you through some of those examples and then step back to consider that information in the context of other key data. Many of these funds are more suited to your watchlist than your portfolio, but some merit investment today.
For more details on this phenomenon, check out the original article here
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