New York
CALL it confidence, or an unwillingness to try to time the market, or even complacency. But whatever the reason, some mutual fund managers with the best performances over the last five to 10 years say they are disinclined to sell their stock holdings - even if the overall market turns down.
"I used to try to time the markets," said Jerome Dodson, manager of the Parnassus Endeavor fund, which has returned nearly 12 per cent annually over the last decade, according to Morningstar. "I got hit every time."
Mr Dodson said that he did not know when the next market peak would arrive, and so would not try to sell stock in anticipation of it. "It's definitely going to come," he said. "It may come...
Keyword added to your list