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Along with the fund name and "specifics," this table typically has columns indicating the fund's net assets (which gives you an idea of how large the fund is), the rate of return on the fund for the month, the last 6 months, and the last year; and the average annual return for longer periods of time (e.g., the last 3, 5, and 10 years).
Shouldn't the media be required to post a disclaimer when discussing past returns, indicating the fund being featured is more likely to tank than outperform?
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–Five stars indicates the fund is in the top 10% of its Morningstar category.
–Three stars indicates the fund is in the next 35% of its category.
–Two stars indicates the fund is in the next 22.5% of its category.
–One star indicates the fund is in the last 10% of its category.
–Four stars indicates the fund is in the next 22.5% of its category.
That Third Point is stepping into market, however, indicates the fund sees a way to navigate the uncertainty of this nascent lending business.
The appointment of Steven Samson, a mutual fund veteran from Chase Manhattan cmb, as the new president and CEO of Kinetics, the investment advisor to the Internet Fund, signals a marked change in the fund's style, one that indicates the fund will be more mature and less youth-oriented.
Even if the I.R.S. and the courts eventually concluded otherwise, that would not indicate the funds had done anything wrong in asserting the position.
DealBook has reported that another e-mail to Mr. Corzine at the same time indicated the funds were drawn from a "nonseg" account, meaning they did not include any customer money.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com