I asked some two dozen fund managers a simple question this week: Would the Federal Reserve Board’s decision — whether it was to raise interest rates or to hold them steady for a bit longer — affect shareholders in their fund in any long-lasting, meaningful way?
The respondents represented a mix of asset classes, from short-term to long bonds, domestic stocks to international equities, covering various investment styles.
The responses, universally, amounted to one word: No.
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