Race Horses and Mutual Funds

For years investors have been taught to look into the composition of a mutual funds. In other words the "experts" want you to take the time to analyze the stocks within the mutual fund portfolio, categorize them by industry group and try to understand the objective of the fund manager. This is nonsense.

When I go the track I look to see what the horse has been doing for the last several races. I don't give a hoot what he had for breakfast. All I want to know is has he been fast? Is there a good chance he will finish in the money in the next race? I only want to know how he has been performing.

Most mutual fund managers, except those who follow index funds, are always trading. You have no idea that what is in the portfolio today was there yesterday or will be tomorrow. Some fund managers trade more than others, but you can prove this to yourself by looking at the fund prospectus at the beginning of the year and one of the updates that funds publish quarterly. Many of the stocks will still be there, however, you don't know if the percentage holdings are the same.

By the way, don't bother reading a mutual fund prospectus. They are worthless when it comes to making money. Consider that most of the information in it is about a year old by the time you read it. Think about this seriously for a minute. Is there anything you can find out in the document that will show up in your bottom line? I'll wait while you think. OK? There really wasn't anything was there? All prospectuses are basically worthless.

But you say the SEC (Securities and Exchange Commission) in Washington approved this. No, they did NOT. They don't approve of anything; they just read it to be sure it meets the regulatory requirements for disclosure. There is almost no difference between the prospectus for the worst mutual fund and the best mutual fund and both of them may have been read by the same Dilbert in his cubicle at the SEC.

There is one excellent way to find out which fund to buy. It is based on performance. How much has the fund increased in price during the past 12 months? Just 12 months. Many financial analysts want you to look at 3-year, 5-year and 10-year performance. Remember that horse? I don't care how many races he won 3 or 5 years ago. Can he run NOW? There are many publications and web sites that tell you the best performers. Investor's Business Daily prints a list of best performing funds each day. You might have to see the paper every day as they sometimes just tell about the long-term performance. You want the last 12 months and the last 3 months.

Three years ago you could have bought the best performing fund on the street and today have a dog. I call a dog any mutual fund that is not outperforming the S&P500 index.

If you were a jockey you would want to ride the fastest horses because in many races you get a percentage of the purse. The same applies to mutual funds. You must own only the best performing funds at all times. Like the jockey you must pick the fastest horse if you want to be a winner.

You should review your fund holdings monthly to see that you are only in the best funds. It might take you an hour, but you will find that you will double the current return on your mutual fund investments. Do it!

Al Thomas' book, "If It Doesn't Go Up, Don't Buy It!" has helped thousands of people make money and keep their profits with his simple 2-step method. Read the first chapter at http://www.mutualfundmagic.com and discover why he's the man that Wall Street does not want you to know.

In The News:

Here are the mutual fund favourites in April  MoneycontrolMaximum month-on-month change in value was seen in TCS, ICICI Bank and Kotak Mahindra Bank.
Stock markets @ record high: 3 tips for mutual fund investors  Times NowNew Delhi: Stock markets grab all eyeballs when the headline equity indices hit record highs or near the previous all-time high levels. From traders to long-term ...
A young investor’s guide to mutual funds  Economic TimesMany young investors, who are barely a year or two old in their career, are eager to start investing in mutual funds. ETMutualFunds.com receive many queries on ...
Large cap index mutual funds continue to outshine actively-managed large cap schemes  Economic TimesLarge cap index funds are outperforming the actively-managed large cap mutual fund schemes in the past one-year period. Kotak NV 20 ETF is topping the ...
D-Street’s mandate not clear yet, best to stagger your bets: Experts  Economic TimesThe return of the BJPled NDA government has eased political uncertainties on Dalal Street but that should not be a reason for investors to put money in stocks in ...
Why do wealth managers recommend multi cap mutual funds?  Economic TimesMany wealth managers believe multi-cap funds are a good starting point for long-term investors, specially those using SIPs for wealth creation.
Stocks vs Mutual Funds: Which is a Better Option to Invest?  EntrepreneurStocks and Mutual Funds have their own set of hiccups, which are better to know before making your investments.
Reliance Capital to exit MF biz, use funds to cut debt  Economic TimesMumbai: Reliance Capital, the financial services business of the Anil Dhirubhai Ambani group (ADAG), has decided to exit mutual funds by selling its entire ...
Finance Ministry to launch ETF with bank stocks, fin institutions this fiscal  LivemintAfter the resounding success of CPSE ETF and Bharat-22 ETF, the govt is looking at diversifying the ETF basket by including stocks PSU banks, financial ...
Markets show they're finally waking up to global wall of worry  Economic TimesThe move against Huawei has forced market participants to ditch the rose-tinted glasses.
Investing in mutual funds? Size of fund doesn't matter  Economic TimesA bigger MF is not always a better fund. If you come across a well-performing small fund, invest in it.
Vetri Subramaniam, UTI Mutual Fund, talks about which stock segments he favours now  Economic TimesIndia's growth trajectory has been consistent over the past two decades and many firms have performed well across cycles, Vetri Subramaniam, Group President ...
Hot and Cold Stocks of Mutual Funds in April 2019  MoneylifeIn April 2019, Larsen & Toubro and Hindustan Petroleum Corporation(HPCL) were the most preferred stocks of Indian mutual funds.
FinMin to launch ETF with bank stocks, financial institutions this fiscal  Moneycontrol.comThe Finance Ministry is planning to launch an exchange traded fund (ETF) consisting of stocks of PSU banks and financial institutions this fiscal and will soon ...
Sebi allows mutual funds in exchange traded commodity derivatives  Economic TimesNEW DELHI: The Securities and Exchange Board of India (Sebi) on Tuesday allowed mutual funds to participate in exchange-traded commodity derivatives ...
L&T India Value Fund: Fund Review  Economic TimesL&T India Value Fund is one of the most consistent performer in its category and investors can invest with a minimum time horizon of five years.
Indians won’t invest in stocks, debt till election 2019 ends  QuartzInvestors in India are waiting the election out. In April, inflows into equity mutual funds (MFs) dipped to their lowest levels since January 2017, according to data ...
How concentrated is your mutual fund portfolio?  LivemintA concentrated portfolio can backfire badly if the fund manager's strategy goes wrong.A portfolio with few stocks can fall sharply if share prices of most stocks in ...
What to buy now? Brokerages pitch over 30 stocks to ride Modi 2.0 wave  Moneycontrol.comWith the Modi government back in the saddle, the focus of the market will shift to the growth cycle, with RBI expected to be more accommodative.
As market prepares for Modi 2.0, here are 13 stocks to invest in for five years  Moneycontrol.comEarly trends put NDA in a comfortable position to form the government that has, to an extent, already been factored by the market after exit polls.
Retail Investors Should Take Exposure To Midcap Stocks Through Mutual Fund Route: Ankit Jain, Mirae Asset Global Investments  BW BusinessworldIn an interview with BW Businessworld, Ankit Jain, Fund Manager, Mirae Asset Global Investments (India), talks about Consumption led funds, lending rates and ...
MF holdings of auto stocks at record low: Motilal Oswal study  BusinessLineMutual funds' holdings of auto sector stocks stood at a record low in April, finds a study by broking house Motilal Oswal Securities. The weightage of the auto ...
What netas invest in: mutual funds, Reliance, KF shares  Deccan HeraldFixed deposits and tax-free bonds seem to be among the most favoured financial investments for the political leaders fighting the 2019 Lok Sabha polls, while ...
How Vanguard Patented a Way to Avoid Taxes on Mutual Funds  BloombergControversial heartbeat trades help the funds avoid taxable gains.
7 Smart Mutual Funds for Income Investing | Dividends  U.S. News & World ReportThese funds offer management and strategy rather than following a specific index.
Monetary policy and Budget could be game changers for markets in the near term  Moneycontrol.comThere can be minor bumps and bouts of profit booking due to the elevated levels, but events like monetary policy and Budget can be game changers which can ...
Stay away from stock tips  LivemintIf taming the stock market was easy, everyone would do it.Losing money in market is real and facing volatility is part of the deal.
Holding of mutual funds in private lenders at a fresh high in April  Business StandardThe holding of mutual funds (MFs) in private banks saw its weightage increase to a new high of 19.3 per cent in April — the seventh straight month of increase.
More active managers are beating the stock market again thanks to the trade war: Goldman Sachs  MarketWatchActive stock pickers are having one of their best years since the financial crisis, and these money managers can thank rising U.S.-China trade tensions for their ...
Equity funds record highest ever exposure in banking stocks in March 2019  Business TodayAs per the latest data available from the SEBI, overall deployment of equity funds in bank stocks grew around 52 per cent year-on-year (y-o-y) in the month ...
FPIs pull out Rs 4,375 crore in May so far  Economic TimesNEW DELHI: Foreign investors have pulled out a net amount of Rs 4,375 crore from the Indian capital markets in May so far, driven by global and domestic ...
Betting on: FIIs, MFs raise stake consistently in 8 companies in last 4 quarters  MoneycontrolThe first and the most important step towards wealth creation is stock selection. Ideally, stocks selected or filtered should be based on your own research ...
These new retirement tips can improve your saving and spending decisions  MarketWatchBest New Ideas in Retirement series offers solid, straightforward help with your plans.
What Type of Mutual Fund Schemes Should You Invest in? Know Here  News18Equity funds are mutual funds which invest majorly in equity stocks of listed companies. They are considered to be risky but they tend to give higher returns in the ...
For new investors, starting SIP in Nifty50 and Nifty Next 50 is ideal: HDFC Securities  Moneycontrol.comFor *fresh* investors, starting with SIP in Nifty 50 and Nifty Next 50 is ideal. On the way, they have to learn about evaluating stocks and their valuations, Deepak ...
Avoid investing in mutual fund NFOs: Here's why  Economic TimesWait for a fund to build a track record and prove its credentials before putting money in it, say experts.
IT, pharma and telecom top sectoral picks for MFs in April  Economic TimesIn the absence of earnings growth triggers, which has shrunk the universe of investible ideas, leading fund houses have resorted to selling more of a part of their ...
Mutual Fund Update: Stocks that attracted fund managers in April 2019  Dalal Street Investment JournalIf we look at the March 2019 data, then the energy sector was the one that featured on top of the buying done by the fund managers. However, the story in the ...
Reliance MF writes down debt exposure to 2 other ADAG firms  Economic TimesMUMBAI: Reliance Mutual Fund (RMF) said late on Sunday it was writing down the value of its holdings in Reliance Commercial Finance (RCFL) and Reliance ...
Best Online Stock Broker: Which Do Mutual Fund Investors Favor?  Investor's Business DailyWhich are the best online stock brokers for mutual fund investors? Data from IBD's Best Online Brokers survey shows those that rate highest.
Liquidity Scare: NBFC stocks slide on fears of spillover  Economic TimesAny default or downgrades in NBFC space will have a cascading impact on the entire sector.
Golden Cross | Midcap and small cap indices are set for fresh bull trend, says ICICI Direct  Moneycontrol.comNifty midcap and small-cap indices are witnessing the Golden Cross phenomenon, indicating a bullish shift in trend direction, along with the maturity of 14-month ...
A Look At How To Ride Out Stock Market Storms  NPREscalating trade wars and volatile markets cause some investors to make hasty decisions that can lead to financially damaging decisions. But there are ways to ...
Forget Warren Buffett: This fund manager has walloped the stock market over the past decade  MarketWatchWhen the “Woodstock of Capitalism” took place a few weeks ago, aka Berkshire Hathaway's BRK.A, -0.37% BRK.B, +0.19% annual meeting, the Warren Buffett ...
Stop! Too many stocks, mutual funds are not good for you; Buying too many may not get you more  The Financial ExpressHandling the overall risk of investments is crucial, but not at the cost of not meeting your financial goals. Over-diversification can do this.
Bech de kya? How to answer this question in stock market  Economic TimesThe phone rang. And I was not surprised. This name always lights up my phone screen when the market hits a new level – high or low. And the question is ...
Shadow banks feel sting as mutual funds cut exposure  Economic TimesMF investments in commercial paper and bonds dropped to Rs 3.24 lakh crore at the end of March.
People Want to Buy Uber Stock  Bloomberg“Uber IPO Is Oversubscribed by Day Two of Roadshow,” it says here, but I would say that Uber Technologies Inc.'s initial public offering was oversubscribed by ...
China Stocks at the Mercy of Foreigners Like Never Before  BloombergThe record pace of foreign selling in China's equities matters now more than ever. While overseas traders are quickly souring on yuan assets, they've also never ...
Invest in These 4 Thrivent Mutual Funds for Great Returns  Zacks.comBelow we share with you four top-ranked Thrivent mutual funds. Each has earned a Zacks Mutual Fund Rank #1 (Strong Buy)
What Makes Berkshire Hathaway Shares Better Than an Actively Managed Mutual Fund?  Motley FoolTo start with, the company is a lot more than Warren Buffett's carefully selected stock portfolio.
Pakistan stocks cap worst week in 17 years after securing bailout from IMF  Business StandardRead more about Pakistan stocks cap worst week in 17 years after securing bailout from IMF on Business Standard. It secured its 13th IMF bailout since the late ...
For First-time Investors, Here's All You Need to Know about About Mutual Funds  News18It is that time of the year again when the question of where to invest your money clouds your head. If you are a new investor planning to put in money in mutual ...
Best Mutual Funds: Patience Is A Key Tactic For This Loomis Sayles Fund  Investor's Business DailyWant a mutual fund that outperforms the broad stock market with relaxing regularity? Consider one of the best mutual funds, Loomis Sayles Growth Fund.
Stocks in the news: YES Bank, Bharti Airtel, Federal Bank, Bharat Road, Reliance Capital and ICICI Bank  Economic TimesL&T's software arm LTI will be hiring around 3800 freshers this fiscal.
3 Japan Funds to Gain From a Robust Economy  NasdaqJapan has showcased resilience in times of global economic slowdown. Its first-quarter GDP nudged up, putting to rest speculation about an impending.
TD Ameritrade Cuts Fees on ETF Trades in Further Blow to Mutual Funds  TheStreet.comAs competition heats up in the exchange-traded funds industry, TD Ameritrade nearly doubles the roster of ETFs eligible for commission-free purchases....BLK.
Stocks post decade-high weekly gains  DAWN.comKARACHI: Investors heaved a sigh of relief as the stock market posted recovery after snapping the seven-successive-week selling spree that had seen the ...
Top 10 stocks that mutual fund managers bought and sold in March 2019  Moneycontrol.comData for equity flows into mutual funds for March came as a breather after a weak February. An increase in net inflows in equity and income category led to the ...
Best And Worst Q2 2019: Healthcare ETFs And Mutual Funds  Seeking AlphaThe Healthcare sector ranks fifth in Q2'19. Based on an aggregation of ratings of 325 stocks in the Healthcare sector. PJP is our top-rated Healthcare sector ET.
Millennials, Don't Let This 1 Mistake Ruin Your Financial Future  The Motley FoolThe Great Recession had a huge impact on every generation, but perhaps none more so than millennials who came of age during this challenging time.
What India's top three mutual funds bought and sold in March  Economic TimesIndias largest money manager held 1.5 trillion rupees in equities.
The Wild Frauds Are the Good Ones  BloombergThere seem to be two basic approaches to financial fraud. One approach is to pretend to do a real thing as accurately as possible, with the minimum necessary ...
Can mutual funds give multibagger returns like stocks?  Economic TimesStocks can be multibaggers. They can offer extraordinary returns in a very short period. Can mutual funds ever do that? This was a question thrown at Rajeev ...
Stocks gain 7.65pc in outgoing week on attractive valuations  The News InternationalAfter a decade, the benchmark KSE-100 shares index recorded the highest weekly gain of 7.65 percent or 2537 points, mainly owing to clarity on the interest ...
Wall Street Isn’t Buying What Silicon Valley Is Selling  The Wall Street JournalPrivate investments in six of the 10 best-funded U.S. tech startups to go public since 2015 have fallen from the peak levels they hit in funding rounds before the ...
5 of the Best Vanguard Funds to Buy  Investorplace.comAnother year, another batch of jaw-dropping inflows to Vanguard exchange-traded funds (ETFs) and index funds. Focusing on ETFs for a moment, as of May 17, ...
Govt tweaks rules, increases limit to disclose investment in stocks, mutual funds for employees  Economic TimesNew Delhi: The Centre has increased the over 26-year-old monetary limit on disclosure of investment in shares and mutual funds by employees to six months of ...
I want to invest Rs 1 crore in stocks and mutual funds for 5 years. How should I invest?  Economic TimesYou may consider the following asset allocation: 40% in large-caps; 40% in large and mid-cap, or multi-caps; and remaining 20% in mid- and small-cap funds.
7 stocks most favoured by mutual funds over last one year  Economic TimesAs the markets hit a speed bump, stocks favoured by mutual funds appear to be safer bets.
Active mutual funds fail to reflect index gains  Economic TimesThe Nifty, which has hit all-time highs for the second time in April, has advanced 12% in the last one year. But these gains are yet to reflect in many mutual funds' ...
Mutual funds or direct equity investment – which is better?  Economic TimesOne big question that often dogs investors is which investing option should they opt for: mutual fund or direct equity? Katalyst Wealth's Ekansh Mittal ends your ...
Mutual Funds increase holding in ‘attractively valued’ oil & gas stocks  Economic TimesMUMBAI: Mutual funds have been adding shares of oil and gas companies such as GAIL, HPCL, BPCL and ONGC over the last few months, encouraged by ...
Mutual funds shooting themselves in the foot?  Economic TimesWhat if banks take a leaf out of Kotak and HDFC Mutual Funds' decision to direct investors to come another day to get their money instead of paying them on the ...
Mutual funds bet big on these 30 stocks in November; do you own any?  Moneycontrol.comThe Indian equity market rose about 5 percent in November but what was more heartening to see was inflows into mutual funds. Investors pumped Rs 1.4 lakh ...
Mutual funds sell several blue chips stocks, buy mid-caps in March  Business StandardDomestic money managers were seen pruning their holdings in several blue-chip stocks, including Reliance Industries (RIL) and Housing Development Finance ...
What top 5 money managers bought and sold in February  Economic TimesFebruary was the fourth consecutive month of decline in net investment into equity mutual funds.
As equity mutual funds' returns turn negative, debt outperforms  Economic TimesGains of 13% in the Sensex have not benefited equity fund investors, for whom returns in traditional debt funds investing in government bonds may have been ...
Why your core equity portfolio should be in index mutual funds  Economic TimesInvestors flock to the performing fund “after” it has beaten the index. Fund selection is not an exact science, and there will be hits and misses.
27-year-old rule changed: Disclosure limit on MF, stock investment up for bureaucrats  Economic TimesGroup A and B officials had to intimate government if total transaction in shares or MFs exceeded Rs 50K.
Here’s a better tool to judge mutual fund performance than simple 1-year, 3-year returns  Economic TimesOne invests in mutual funds to earn potentially higher returns than those in traditional investment products, and I'm sure everyone looks at the one-year, ...
What top mutual funds bought and sold last month  LivemintMumbai: Inflows into Indian equity mutual funds in January were the smallest in two years as heightened market volatility and political uncertainty cooled ...
These are fertile grounds for long-term stock pickers, says Samir Rachh of Reliance Mutual Fund  Economic TimesSmall cap funds are going through a rough patch after a bull run in 2017. etmutualfunds.com spoke to Samir Rachh, fund manager, Reliance Small Cap Fund, ...
Should I increase investments in mutual funds once I have more money to invest?  Economic TimesI am a 19-year-old student. I want to invest Rs 2,500 per month in mutual funds for 7-8 years. Can I increase the investment amount with time—once I have more ...
Check out what top five mutual funds bought & sold during October selloff  Economic TimesNEW DELHI: Mutual funds stood resilient as industry's asset base increased to Rs 22.23 lakh crore in October in spite of a heavy correction in the domestic ...
New SIP investors feel the pain as equity fund returns disappoint  Economic TimesSip by sip: That's how the average Indian had a taste of equities in the past couple of years. But the steady road to riches, which involved monthly mutual fund ...
Mutual funds garner over Rs 65,000 crore in Jan  Economic TimesMUMBAI: The mutual fund industry added assets worth Rs 65,439 crore in January 2019, taking total assets under management to Rs 23.37 lakh crore.
Why it is a bad idea to always look for outperformers while investing in mutual funds  Economic TimesOne of the most important features that any investor, wealth adviser or anyone in the financial media looks for in an investment product is its track record in ...
Mutual funds' exposure to banks hits 3-month low of Rs 1.88 lakh crore in Sept  Economic TimesMutual funds' holding of banking stocks declined by over Rs 21,600 crore to Rs 1.88 lakh crore in September, driven by the correction in equity markets.
How stocks picked by mutual funds over 2014 to 2017 have performed  Economic TimesWhile the most wanted stocks of 2014 and 2015 have done well, the recent picks have disappointed.
Diversify equity portfolio with international funds  Economic TimesAs a part of diversifying your equity portfolio, wealth managers believe investors should diversify geographically using mutual funds. They can do this by ...
Debt mutual funds with Zee exposure send investors into a tizzy  Economic TimesMUMBAI: Worries about the prospects of debt mutual funds holding securities of Subhash Chandra's Essel Group entities have resurfaced after Kotak Mutual ...
How income from stocks and mutual funds are taxed for an individual  Moneycontrol.comCapital gains from transfer of unlisted share are considered as STCG where period of holding is less than or equal to 24 months, and LTCG when holding period ...
Top 30 stocks that fund managers bought & sold in March; do you own any?  Moneycontrol.comData for equity flows into a mutual funds for March came as a breather after a weak February. Increase in net inflows in equity and income category led to the ...
BJP’s Amit Shah has diversified stock investment portfolio; Rahul Gandhi prefers mutual funds  Economic TimesShah held shares worth Rs 17.56 cr as of March 22, while Gandhi has MFs worth Rs 5.19 cr.
Quantum Mutual Fund uses cash pile to buy stocks cheap  Economic TimesQuantum Long Term Equity Value Fund, where value investing is the pronounced fund allocation theme, has brought down the level of cash at its plan to the ...
Three large mutual funds opposed to L&T’s takeover of Mindtree  Economic TimesMUMBAI: Three large mutual funds holding shares of Mindtree are opposed to L&T's hostile takeover attempt of the mid-sized software company.
5 funds that outperformed the recent surge in Nifty returns  Economic TimesEquity markets have seen a strong rally on the back of strong flows from foreign investors and hopes of the NDA-led coalition coming back to power. The Nifty ...
Financial planners recommend new fund from Mirae Mutual Fund  Economic TimesConsistent performance of the existing equity mutual fund schemes at Mirae has prompted financial planners to suggest the Mirae Asset Focused Fund to ...
Mutual funds may need smart bets on smallcap stocks to beat ETF show  Economic TimesSmallcap stocks could see up to ₹1 lakh cr inflow as fund managers look for potential winners: Analysts.

Inverted Interest Rates

Inverted interest rates? What's that? Who cares? Even if you... Read More

Lights of the Stock Market

There are red lights, green lights, blue lights and spot... Read More

Series 7 Exam

What is the Series 7 Exam? If you... Read More

Selection Vs Direction

As I have said many times before in this column... Read More

Investment Research - The Dalbar Study

Very few people, even professionals, have heard of the Dalbar... Read More

Red, Green, Yellow - or - Stop, Go, Go Very Fast: Which Describes Your Online Trading?

Ever notice how behavior in one area of life can... Read More

Trading Tips No 8: Picking the Best Stock Market Price

Carefully thinking through your goal as a trader is of... Read More

Expense Ratios

Mutual funds and brokers are always preaching not to buy... Read More

Take The Time

You must take the time once a month to review... Read More

Dollar Cost Averaging

Dollar cost averaging is one of the most popular ideas... Read More

What Our Investment Advisor Wont Say Off The Bat

Most advisors will tell you they can beat the market.... Read More

Long-Term Investment In Todays Market?

The stock market is very unstable at this time going... Read More

Frog In The Pot

You remember the story about the frog that was put... Read More

Pamplona, the Wild Investment Bulls

You remember (they show it on TV every year) the... Read More

How (NOT) to Buy Mutual Funds

When it comes to mutual funds, there is a lot... Read More

Does Japan Matter?

For the last 12 years we have seen the Japanese... Read More

Trading Stocks ?Never Forget About A Past Trade

We all know that emotions control every decision that an... Read More

Finding A Good Stock

One of the things people are always asking me is... Read More

Duct Tape

Did you run out to buy that duct tape yet?... Read More

Why Buy and Hold?

Since I can remember, and that's a long time ago,... Read More

Leverage - Margin Debt

What is leverage?Here is a definition of leverage from an... Read More

Successful Trading ? Taking Profits - Part 1

So you're started trading, you bought some positions with your... Read More

Wal-Mart: Discount Store, Discounted Stock?

As GuruFocus updates the stock buys and sells of gurus,... Read More

Why Investors Use Financial Planners

Do you have a financial planner? Does one of your... Read More

Bull or Bear?

Cat or dog? Maybe Zebra. Shucks, I don't know, but... Read More