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The Philadelphia Inquirer Loose Change Column.
Knight Ridder/Tribune Business News, June, 2001
By Joseph N. DiStefano, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Jun. 24--THEIR FLAWED TIMING MEANS THEIR TIME'S UP AT VANGUARD: The Vanguard Group's U.S. Growth Fund missed the upside of technology stocks in 1999. That was bad enough, but then the fund's managers decided to move more aggressively into tech in 2000, just in time to get hit by the downturn.
So it wasn't too much of a surprise Friday when Vanguard announced that it had replaced David Fowler and Parker Hall 3d of Lincoln Capital Management in Chicago as managers of the fund.
John Blundin and Christopher Toub of Alliance Capital Management of New York will now run the $12 billion fund.
Vanguard did not give an official reason for the change,...
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