Wanted: Fund manager (no experience necessary)

Experience may not matter much at all. More than 100 US stock funds returned over 100% last year, according to fund researcher Lipper Inc. Fifteen even produced 200%-plus gains, and of those 15, the average manager tenure was a short 2.7 years. How did the young skippers of these new wonderfunds pul...

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Bibliographic Details
Published in:Fortune 2000-03, Vol.141 (6), p.260
Main Author: Boitano, Margaret
Format: Magazinearticle
Language:English
Subjects:
Age
Equity funds
Internet
Investment advisors
Mutual funds
Portfolio management
Rates of return
Sector funds
Skills
Stock prices
Online Access:Get full text
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Summary:Experience may not matter much at all. More than 100 US stock funds returned over 100% last year, according to fund researcher Lipper Inc. Fifteen even produced 200%-plus gains, and of those 15, the average manager tenure was a short 2.7 years. How did the young skippers of these new wonderfunds pull it off? Mostly by copping rides on tech-stock comets like Qualcomm and i2 Technologies. In today's Alice-in-Wonderland market, it would appear that the less one knows, the better.
ISSN:0015-8259