They make savvy bets, but they could be caught leaning the wrong way. We still like the fund, but such a streak is harder and harder to maintain. I wouldn't be pounding the table telling people to buy this fund.
The idea of a focus fund is to devote assets to your highest-conviction stock picks. It makes stock picking critical. A couple of blowups can really damage returns.
College-savings plans continue to provide welcome tax benefits and help families.