Grex Agora46 Conference

Item 205: The rich are finding ways to steal from YOUR mutual fund!

Entered by russ on Tue Sep 9 03:35:41 2003:

1 new of 36 responses total.

#29 of 36 by gelinas on Wed Sep 17 22:11:44 2003:

"The funds -- Bank of America, Janus Capital Group, Bank One Corp. and
 Strong Capital Management -- gave Canary Capital Partners access to:
Closing-bell prices on share purchases made hours after the market closed,
despite federal laws prohibiting such look-back pricing" (Resp 0).

So they've not yet gone to jail.  They still broke the law.

Were all those who made out like bandits in the past six years actually
bandits?  Probably not.  Were they all extremely skilled money managers?
Again, probably not.  Does more disposable income explain their increased
wealth?  Possibly; it's often said that it takes money to make money.

Is there any way that the statement in #16 is not a gross simplification
of a complex subject?  Nope.

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