Date: Tue, 21 Dec 2004 04:02:00 CST
From: Will Trice 
Subject: Re: Load vs No-load Mutual Funds
Newsgroups: misc.invest.financial-plan
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Brent D. Gardner, ChFC wrote:
> "Will Trice"  wrote in message 
> news:41C522DF.5000903@paragondynamics.com...
> 
>>Available at www.ssrn.com:
>>
>>Morey, Matthew R., "Should You Carry the Load? A Comprehensive Analysis of 
>>Load and No-Load Mutual Fund Out-of-Sample Performance" (undated).
>>
>>Mr. Morey's data shows that no-load funds outperform load funds.
> 
> 
> Again, with the bizarre sources. SSRN isn't one touted by those who manage 
> billions. Who are they? Nobody. Case dismissed.
> 

Attacking the source does not change the fact that this paper provides 
"verifiable evidence" (as you requested) of the returns of fee based 
funds vs. no-load funds.

Nevertheless, I thought you would have been familiar with SSRN, my 
mistake.  The Social Sciences Research Network is an online database 
providing access to financial journals (among other fields), including 
the Journal of Finance.  Eugene Fama and William Sharpe are on the Board 
of Trustees (maybe you've heard of them).  Note that The Journal of 
Finance is "touted" by William Bernstein on his website 
www.efficientfrontier.com as, "definitely worth visiting a few times a 
year."  I believe that he qualifies as one of "those who manage billions".

Just so you know, Mr. Morey's paper was also published in The Journal of 
Banking and Finance, Volume 27, Issue 7, pg. 1245-1271.  But you may 
think that this source is bizarre as well.