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Nov. 5, 2007, 8:00 a.m. EST

'Awful fund' holds lessons for good investors

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Gregg Brewer, executive director of research for Value Line, says the American Heritage fund -- one of the worst mutual funds in history -- holds lessons for ordinary investors. He should know, as he is a former shaeholder of American Heritage, a fund that has a double-digit expense ratio as one of many problems. Brewer made American Heritage the "Mutual Fund of the Week" on Your Money Radio after going to the annual meeting held by one of his favorite funds, Baron Partners, which earned the honor a week ago; Brewer said the experience reminded him of how a simple mis-step actually can lead to an investing disaster.

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