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Post by Sapphire Capital on Jul 11, 2008 4:37:55 GMT 4
Death, Taxes, and Short-Term Underperformance: Fixed Income Funds BRANDES INSTITUTE Brandes Investment Partners -------------------------------------------------------------------------------- September 1, 2007 Brandes Institute Research Paper No. 2007-06 Abstract: In our initial Death, Taxes, and Short-Term Underperformance equity studies, we established that short-term underperformance may be unavoidable, even when investing in top-performing equity funds. In this article, we find strikingly similar results among fixed income funds. Given bond investors' loss-averse predisposition, weathering stretches of short-term underperformance may have proved challenging, even when investing in fixed income funds that delivered favorable long-term performance. (Note: This article has been filed with FINRA) papers.ssrn.com/sol3/Delivery.cfm/SSRN_ID1147133_code1038980.pdf?abstractid=1147133&mirid=3
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