BY WARREN BOROSON
NEWJERSEYNEWSROOM.COM
BOROSON ON MONEY
SmartMoney’s list of “100 Best Mutual Funds in the World" (February) is just plain weird.
Among the 100, there are 25 U.S. stock funds, 25 foreign stock funds, 25 taxable bond funds, and 25 “alternative” funds. The 26th U.S. stock fund was really worse than the 25th foreign stock fund, the 25th taxable bond fund, and the 25th alternative fund? How likely was it that the “100 Best” funds were so nicely divided into four categories?
Besides which, a great many of the funds are obscure as all get-out.
Consider the following: Berkshire Focus, Hancock Horizon Burkenroad, Icon Energy, Munder Growth Opportunities, Pin Oak Equity, Integrity Viking Williston Basin/Mid-North American Stock, Saratoga Technology & Communications Portfolio, Southernsun Small Cap Investor, Tilson Dividend, Transamerica Systematic Small/Midcap Value.
None of these funds are listed among the larger funds covered in Morningstar Mutual Funds, the bible in the mutual fund field. And I’ve looked only in SmartMoney’s U.S. stock funds category!
