66 Total Quotes

Russ Kinnel Quotes

[Analysts see the fund as a gimmick trying to attract investors.] The entertainment, the gimmick, doesn't really have anything to do with investing, ... They brought chat boards to life in a mutual fund.
Russ Kinnel
#Entertainment

Like baseball managers, there's almost too much credit given to a fund manager when (a fund) does well, and too little when it does poorly. It's very healthy to look beyond a star manager.
Russ Kinnel
#Baseball

That was a train wreck.
Russ Kinnel
#Train

This is a consolidation period in the industry, both in terms of staffing and the number of funds. We've seen a lot of fund mergers recently and some layoffs.
Russ Kinnel
#Consolidation

You're using research that a lot of other people have seen.
Russ Kinnel
#People

There are different styles and risk controls you see across the board at fund families,
Russ Kinnel
#Risk

You maybe expected a lot of money to leave, but the fund was having great returns so more people put money in.
Russ Kinnel
#Money

It's a brutal bear market, ... It's amazing. It's like it's another country compared with large stocks.
Russ Kinnel
#Country

Lately, performance has been so bad that a fair amount of money has been coming out. It's been a fund people are disappointed with.
Russ Kinnel
#Money

Communications and technology have been locked arm in arm lately. The line between communications funds and tech funds is being blurred.
Russ Kinnel
#Technology

Turnover tends to add value in small cap growth funds.
Russ Kinnel
#Growth

Fund companies tend to put the service costs into the basic expense ratio even if you're not getting a lot of the services. As they try to become all things to all people, it may drive up the cost for people who don't want the extra services.
Russ Kinnel
#Service

It's a big enough sector that if you don't have any energy exposure, you probably should.
Russ Kinnel
#Energy

I'm disappointed. He's been running money for a long time at Fidelity and he's running a core fund.
Russ Kinnel
#Fidelity

Sometimes we've seen managers fairly divorced from the process. Maybe they don't pay those fees or worry about tax consequences. But if they have a lot of money in the fund, you can bet they do.
Russ Kinnel
#Consequences

There's bound to be a strong interest in protecting your principal and your reputation. However, I think it can be a mixed bag. On the one hand, you have some nice stability. . . . But at the same time, there can be issues. You have to ask, has this person really earned their spot? Obviously some will show experience beyond their years, for having grown up in it, and having fathers that can show them the ropes. That can be tremendously valuable.
Russ Kinnel
#Interest

Miller has totally avoided energy and Davis has some energy. Think how that works in this year's environment, when energy did well. Miller's bias didn't hurt it as much. But maybe next year, it will work the other way. With this variation . . . you're getting the manager and strategy diversification, but you're not getting this bloated portfolio that's almost an index fund.
Russ Kinnel
#Energy

He made some really big bets that didn't work, ... Jim did an amazingly good job at PBHG and an amazingly bad job at Merrill Lynch.
Russ Kinnel
#Work

In the past, all bond fund blowups were interest-rate related,
Russ Kinnel
#Interest

If you're leaving a fund company, then it's in the works for a little while, ... The fund's returns are still enormous.
Russ Kinnel
#Company

Their performance has been gangbusters, ... They've won with this strategy. It's really paid off.
Russ Kinnel
#Performance

They're selling a little, but their technology weightings are still way ahead of where they were six or nine months ago,
Russ Kinnel
#Technology

When people saw (Van Wagoner) leaving they started bailing out,
Russ Kinnel
#People

[The performance picture is muddied, however, because many troubled Merrill funds have been merged with others or liquidated.] Merrill's record looks better than it is when you consider the bad funds they've merged away, ... They swept quite a bit under the rug.
Russ Kinnel
#Performance

We were also impressed by what Dodge & Cox Income didn't own, ... The fund is overweight in corporate bonds relative to its benchmark. In 2002, that meant trouble because investors ran from corporate bonds for fear they would get caught holding the next Enron. This fund not only avoided disasters, but it also found enough winners to return nearly 11 percent in 2002. Just as impressive, the fund's returns for the trailing five and 10-year periods rank in the top 10 percent of its category.
Russ Kinnel
#Income

We were also impressed by what Dodge & Cox Income didn't own. The fund is overweight in corporate bonds relative to its benchmark. In 2002, that meant trouble because investors ran from corporate bonds for fear they would get caught holding the next Enron. This fund not only avoided disasters, but it also found enough winners to return nearly 11 percent in 2002. Just as impressive, the fund's returns for the trailing five and 10-year periods rank in the top 10 percent of its category.
Russ Kinnel
#Income

They're selling a little, but their technology weightings are still way ahead of where they were six or nine months ago.
Russ Kinnel
#Technology

Their performance has been gangbusters. They've won with this strategy. It's really paid off.
Russ Kinnel
#Performance

If you're leaving a fund company, then it's in the works for a little while. The fund's returns are still enormous.
Russ Kinnel
#Company

In the past, all bond fund blowups were interest-rate related.
Russ Kinnel
#Interest