Unraveling the Mysteries of Market-Timing

Beverly,

In your article Time to Sell Strong Funds?, you mentioned (and I have heard a lot of talk about this from other articles) that "market-timing" and turnover in mutual funds raises the costs to the fund and hurts performance. How can that be when all trading costs and expenses are built into the expense ratio? Would it not just cut into the fund's profitability as it relates to the fund company only?

-- J. Hanahan ...