The futility of active management - Investment News: "From 1994 through 2008, the average large-cap mutual fund that was in existence for the full 15-year period (some 400 funds) posted an annualized return of 5.61%, compared with 6.46% for the S&P 500.And because some people claim that active managers are more valuable under the circumstances of a bear market than when the markets are trending
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