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Cash Isn't King: Don't Blame Fund Managers for Staying Fully Invested
Railing at your growth fund manager for not charging into cash and bonds as tech stocks collapsed is like heckling a bond fund manager for not owning Cisco.
Since its March 10 peak last year, the tech-laden Nasdaq Composite has fallen nearly 60%, taking tech- and tech-stuffed growth funds with it. Cash would have been a warm, dry place during that monsoon and as investors saw their formerly highflying funds crater, a debate raged, centering on one question: Why don't stock fund managers cash out of stocks when they're in a freefall?
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