A quote from Bill Fleckenstein worth recording:

“Isn’t it interesting that certain stocks comprising big proportions of popular mutual funds always manage to see large price changes a couple days before quarter-end. I’m sure that must just be a coincidence.

SEC: Wake Up & Smell the Mark-Up

I have complained about this practice publicly for going on 10 years now. It’s mind-boggling to me that it has not been stopped when it would be so easy to do so. I can’t understand why the SEC refuses to put an end to one of the greatest open secrets on Wall Street (with managing one’s earnings to beat the number being the second most open secret).”

Fleckenstein Capital