Conference nyoss1::market_investing

    
    I believe that Scudder Global has up to 30% or so invested in the U.S.
    
    If you want a pure international fund to make asset allocation
    decisions a little easier, you might also send for information on
    Scudder International Fund.
    
       /jim
    

    Thanks for your response.
    
    The reason I am considering Scudder Global is to hopefully add a better
    return to my overall selections.  I want to keep my present selections
    but invest modestly in something with higher risk that would also offer
    the potential of higher return.
    
    Do you consider 30% invested in the U.S. good or bad?  Would you look
    for something with more global investment?  Do you have any suggestions
    for other possibilities?
    
    I am a REAL novice and would appreciate any comments.
    
    Thx.
    

    It isn't "bad" or "good" that Scudder's Global funds include U.S.
    investments -- .1 was just pointing out this fact, and the fact that
    Scudder's "International" funds are the 100% non-US funds.
    
    If you already own funds investing in the US then diversifying with a
    purely non-US fund might be appropriate for you.
    
    Also, I don't believe that the Scudder Global/International growth
    funds are particularly aggressive (read particularly high risk
    w/particularly high potential gains and losses).  Global equity funds
    as a class, of course, expose you to both the risk associated with
    equities (which, one hopes, will appreciate over time even if they had
    bad periods) and the risks associated with currencies, which are more
    likely to simply balance out over time.
    

    I was reading the preceding note about "Global" and "International"
    funds and have a question. I'm trying to find a growth/cap appreciation
    fund that invests primarily in the Pacific Rim without having a
    predominance in Japan and haven't been able to turn one up. Most seem
    to have 30% or more in Japan. I'm interested in Korea, Indonesia, NZ,
    Austr. etc.. but not Japan. Does anyone know of any funds like that?
    
    			Thanks. Melissa

Scudder just opened up a new one with those countries...It's call the Pacific
Opportunity Fund.

/mtb

    
    Try looking into Fidelity's Southeast Asia fund.  The load has been
    waived, I think, until May, and from what I've heard, the fund has been
    doing quite well.
    
    /bh/

    Montgomery Emerging Markets might help too--Japan is clearly
    an emerged market already.  It's a no-load.  Fidelity has an
    Emerging Markets fund, but it has a load.
    
    		-John Bishop

    Southeast Asia but no Japan investments. = T Rowe Price Southeast Asia 
    Fund.
    

    Thanks for all the info - I've never heard of T Rowe Price? Do you have
    an 800 number or something? thanks again.

    re: .8
    
    The T.Rowe Price fund is called the "T. Rowe Price New Asia". The
    number for TRP is 1-800-638-5660.
    
    Mike

    Thanks. I've called for all recommended funds... should get the sheets
    next week. I'll post a comparison in case anyone's looking in the same
    direction I am. 

    I got copies of Morningstar reports for each and have picked Fidelity
    Emerging Markets. Thanks for the help and if anyone wants the
    morningstar comparison, let me know. 
    
    
    	MHC

re .12

A point of caution on the Emerging Markets Fund.  They are HEAVILY invested in
Mexican securities - 18% of the fund. They are banking (pun intended) on NAFTA
being ratified by the US Congress.  IF NAFTA runs into trouble, Emerg. Mkt will
share that trouble.  If NAFTA sails through, EM will do just fine. At this
time, there MIGHT be enough votes in the Senate; there are not even close to
enough votes in the House.  

Eventually, some sort of NAFTA will be approved.  I have concluded that, in my
seldom_humble_opinion, it will be later rather than sooner and that I have
better things to do with my money than to add to the long_term_/_speculation
portion of my portfolio.  If you need to balance your portfolio with
speculative vehicles, go for it.  The quality of Fidelity's staff will limit
the downside. 

As Always, For What It's Worth.

Dave

    Dave,
    
    Thanks for the input. I am looking for a "somewhat" speculative vehicle
    that focuses on the PACRIM w/o Japan and South America w/o Brazil.
    You are right about the risk in Mexico but 18% doesn't sound "heavy" to
    me.... (I'm new at this game). I've got an aggressive-ish portfolio of
    mutual funds (Vista Growth, Hancock Special Equities, Fidelity Emerging
    Growth) and was going to top it off with little bit  of an extra-risky 
    perhaps extra-rewarding PacRim fund.
    
    This portfolio is intended as a college fund for my kids (now 3 & 5 - long
    way to go....) so I figured I'd take the risk now and down grade the
    risk as the time gets closer. But.... I am new at this, maybe too
    aggressive?? Thanks for the humble input.
    
    		Melissa
      

.14

Markets, companies, countries have cycles that are not always well defined and
it is next to impossible to precisely call the top and/or bottom of those
cycles. I try to "recognize" the point at which I have turned the corner and
have started down as the time to sell and the point at which I have turned the
corner and started up as the time to buy.  That way I avoid false starts.  The
"better" funds are managed by those folks who are better able to more closely
predict the actual maximum peaks and valleys. 

The best reason for anybody to buy Mutual Funds is for the inherent safety
their diversification offers due to a spreading out of cycles among many
companies.  For a fund to have 18% of its investments in any one bucket is to
degrade its safety from diversification. 

From a timing perspective, I think is too soon to pop into European funds
(their "recovery" is still a bit aways), too late (may have missed the sharpest
increase) for PACRIM funds, maybe ok for global funds that truely ARE global;
US, EUR, PACRIM, S. AMer.  

Although there are more than a few PACRIM funds that have done well and should
continue to do so, if 'twere me, I'd go for the Fidelity Contra Fund (superb
job at picking peaks and valleys on individual securities and industries) while
I watch and wait for foreign market funds.  In the mean time, read up on Macro
Economics to recognize when the foreign markets have begun swinging upwards
(also, if you get a Samuelson book, you will cure any insomnia) THEN, pick a
fund which has an objective similar to yours and invest. 

As Always, For What It's Worth...

Dave

    re .14
    PACRIM w/o Japan and SA w/o Brazil! I love that idea! You know more
    than you're letting on. :-)

    I'm an ex-GIA finance person and have been watching those markets in 
    terms of overall growth, potential etc.. for sometime. ... or maybe I
    just like risk!!! :-) 

Scudder Latin America Fund is geographically distributed between Mexico,
Brazil, Argentina and Chile.  Between April 30 and July 31 net asset value
rose to $14.98, up from $13.20 or 13.48%.  As I enter this they are at 
$17.59 or up over 33% from the beginning of their third quarter.

I've had fun playing in this one and hope the good times last a while longer.
I suspect there will be a cooling off.

re -.1....it has been fun hasn't it!  ;-)

michael

    
    The AAII journal for Sept has an interview with the fund manager
    for the TRP New Asia fund.  
    
    dan
    

    sorry to be ilinformed ... but what is the AAII Journal?
    

    re: .18 
    The stigma for Brazil is that I don't like things that I can't conceive
    of, and 2billion % inflation is something I can't conceive of. I'm sure
    that there are great opportunities there that fund managers can grab
    hold of but.... it scares me. (rule #1 - don't invest based on
    emotional reactions) -- I broke it... : )
    
     

    
    WRT .21
    
    It is the American Association Of Individual Investors.  If you are
    interested in more information, I will post the address when I remember
    to bring in the info (tomorrow, hopefully).
    

    Thanks, I would like it.