Scott Cooley
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Scott Cooley
Scott Cooleywas an Old West Texas Ranger and later outlaw, best known for his association with gunman Johnny Ringo...
airline argument build choosing goes guess hypothesis likely management run stocks travel
They're run by the same management team, and their argument for choosing airline stocks is that air travel is likely to build over time. I guess this goes to show how even that well-built hypothesis can be vulnerable.
cyclical economy investors
These are cyclical stocks. When the economy slows, investors get out.
caps general jump moves people prices share trading
In general micro caps are riskier because their share prices jump around more because not as many people are trading them so moves can be more dramatic.
actively funds mix
Indexing is a long-term strategy. It still makes sense to have a mix of index funds and actively managed funds.
chasing flows growth investors nearly perception performance poorly problem reality seen start stocks strong technology throughout vice wonder
Nearly everything that had done well in 1999 has done poorly this year, and vice versa. I think the problem is perception lags reality with investors. Throughout this year, we've seen strong flows into technology and growth funds, and the stocks haven't done well. You wonder when investors will start chasing performance and go to value.
eaten
They just don't make sense for (small investors). They'll get eaten up by the commissions.
managers smartest
He is one of the smartest managers around.
brought companies create fund managers pressure
A lot of the pressure has been brought on managers by the fund companies themselves. They create unrealistic expectations.
funds percent run stock time
Any time you let a stock run up to 40 percent of your portfolio, you have to have a lot of convictions. There aren't a lot of funds like this.
educated expenses higher understand
A lot of shareholders are more educated about expenses. That's why they've been migrating to lower-cost funds?They understand higher expenses come out of their own pockets.
few fidelity fund harm increasing size tough
I think there is an increasing recognition at Fidelity that fund size can really harm performance. If they are too big it can be pretty tough to reposition a portfolio. That is something Fidelity didn't acknowledge a few years ago.
across expenses falling fund happening people thinking
You can't really say it (fee cuts) are happening across the industry. People shouldn't be lulled into thinking expenses are necessarily falling at their fund family.
dedicated fantastic people record
Probably most people don't know who he (Weitz) is, but he has a fantastic record and a dedicated following.
flight funds gotten growth perceived seems stocks technology tend
Mid-cap and large-cap growth funds tend to have a lot of technology stocks and biotech stocks, and biotech stocks have really gotten pummeled too. It seems like there's been a flight from anything perceived to be risky.