That's a relief. You're trying to appear as something you're not . You're trying to look better than you are . This is what I believed. They deceive potential and current investors.
Window dressing is as close to lying as a mutual fund manager can go without actually fibbing.
Let's finally explain window dressing with an example. On the flip side, if the fund had held Merck all quarter and Merck had declined, the fund could sell its stake the day before quarter ended and basically hide the fact that it held the poor performing investment. Fools know that one quarter is too short a period to measure for investment performance, but mutual funds do measure themselves by the quarter and therefore they adjust fund holdings accordingly to look better to the public each quarter. Effectively, fund managers take last minute action to deceive the public regarding their positions. Imagine that you owned 3Com for the past year.