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Byline: KEN HOOVER
Arieh Coll runs Eaton Vance Growth Fund according to an old Wall Street adage: cut your losses and let your profits run.
If a stock falls 15% from his purchase price, he takes a hard look at it. In a few cases, he'll decide the company is fine and use the dip to buy more. More often, he says, he sells. Stocks have an unpleasant tendency to start dropping before the bad news comes out.
This practice, a bit unusual among fund managers, helps explain the annual turnover rate of 282% listed by Morningstar Inc. That translates to an average holding period of little more than three months.
But Coll says that's because of last year's dreadful market that saw the S&P 500 drop 23.37%. It …