A lot has changed for mutual funds in recent years, and older, traditional stock pickers are feeling the growing pains.
Active fund PMs like Wally Weitz
of Weitz Funds
] have lived — and built impressive careers — by the golden rule: buy strong companies whose shares are down and wait patiently for a rebound. Yet the Wall Street Journal worries
that golden rules — like solid gold itself — are losing value.
In the present index mania, stock pickers like Weitz are in trouble. Investors are not valuing their wisdom and approach the way they used to. And how they will survive, remains to be seen.
For more, see the full story here
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