"Voya Corporate Leaders Trust fund (LEXCX). It was created in 1935 with a fixed portfolio of equal amounts of 30 blue chip stocks. It hasn't picked a new stock since."
Wow, who knew but LEXCX that in 1935 there was Footlocker, Comcast, Viacom, Fortune Brands, and Ameren?
So the fund has obviously picked some new stocks since 1935, as those are in its current portfolio and they didn't exist n 1935.
Butt in general, I take your point and my investing strategy generally (for a significant portion) follows that LEXCX plan - and I have a few of the stocks in their current portfolio.
Butt clearly a fund HAS to pick new stocks if for no other reason than M&A changes your holding for you. I held a lot of Texaco - then Chevron bought them, so now I hold a lot of Chevron. If LEXCX owned AT&T in 1935, well in the 1980s they would have owned the Baby Bells (some of which went on to become Quest, etc.), Lucent (Western Electric), and a new AT&T which is now largely wireless. Lucent is now Alcatel, which is now something else and is basically a total loss financially.
You can't just pick 30 and forget. The market and M&A makes that impossible. You have to monitor them constantly. Right now, one of my long-time blue chip holdings, Johnson Controls (JCI), is doing a merger with a security division of Tyco. I'm nott shure I agree with that, butt I've decided that since JCI management survives and JCI is substantially an acquirer in this deal, I'll avoid the tax hit and hold to see how it pans ~OUTT.
Heck, at one time railroad stock and Sear Roebuck were blue chips. Things change - all the time - and faster now than ever.
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