Payden tops list. (Wall Street West).The latest edition of British magazine Global Investor ranked Los Angeles-based Payden & Rygel the top U.S. mutual-fund group for its slew of domestic equity and bond funds. The Brit brit also britt n. 1. The young of herring and similar fish. 2. Minute marine organisms, such as crustaceans of the genus Calanus, that are a major source of food for right whales. glossy relied on Morningstar data to rate different mutual fund shops, based upon the performance of their entire slate of U.S. funds, not just one fund. The No. 1 ranking suggests that Payden & Rygel is consistently solid in its management of its funds, now amounting to $40 billion. Many mutual fund shops tout Tout To promote a security in order to attract buyers. tout To foster interest in a particular company or security. For example, a broker might tout a security to a client in the hope that the client will purchase the security. this or that fund as No. 1, or otherwise superlative, while obscuring the fact they have dozens of funds under management, many of which may be laggards. Joan Payden, founder, last week said the big picture is now crucial to stock picking, meaning top-down selection is the best approach, as well as diversification. "Instead of just picking a stock or a bond, look at the global economy, and try to select which sectors are going to do well. Then, pick investments within those sectors," she said. Also, don't get caught up in manias Manias See also fads;insanity; -phile, -philia, -phily;phobias. acromania a violent form of mania; incurable insanity. agoramania a mania for open spaces. agyiomania a mania for streets. , Payden advised. "When everyone projects that a company's earnings are going to increase by 25 percent a year long into the future, take a step back. Very few - very, very few - companies ever really do that. Our national economy only grows at 2 percent to 3 percent a year. Keep that in perspective." Contributing columnist Benjamin Mark Cole Mark Cole is a multi-instrumentalist blues and roots musician based in Gloucester, UK Music Mark primarily writes and performs blues music but also writes and performs music influenced by other American roots music genres such as americana, cajun, zydeco, bluegrass and writes about the local investment community for the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Business Journal. His new book is "The Pied Pipers Pied Piper charms children of Hamelin with music. [Children’s Lit.: “The Pied Piper of Hamelin” in Dramatic Lyrics, Fisher, 279–281] See : Enchantment of Wall Street: How Analysts Sell You Down the River," published by Bloomberg Press. He can be reached at seven-continents@mindspring.com. |
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