MUTUAL FUND MANAGERS MOSTLY STINK — NYT’s
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Posted On: 03/16/2015 2:56:58 PM
MUTUAL FUND MANAGERS MOSTLY STINK
— NYT’s Jeff Sommer: “The bull market in stocks turned six last Monday … it has generally been a very pleasant time for money managers, who have often posted good numbers. Look more closely at those gaudy returns, however, and you may see something startling. … In fact, based on the updated findings and definitions of a particular study, it appears that no mutual fund managers have … f all of the managers of the 2,862 funds hadn’t bothered to try to pick stocks at all — if they had merely flipped coins — they would, as a group, probably have produced better numbers. …
“The data in the study didn’t prove that the mutual fund managers lacked talent or that you couldn’t beat the market. But, as Keith Loggie, the senior director of global research and design at S.&P. Dow Jones Indices, said in an interview last week, the evidence certainly didn’t bolster the case for investing with active fund managers.”
http://nyti.ms/1FpEo5s
— NYT’s Jeff Sommer: “The bull market in stocks turned six last Monday … it has generally been a very pleasant time for money managers, who have often posted good numbers. Look more closely at those gaudy returns, however, and you may see something startling. … In fact, based on the updated findings and definitions of a particular study, it appears that no mutual fund managers have … f all of the managers of the 2,862 funds hadn’t bothered to try to pick stocks at all — if they had merely flipped coins — they would, as a group, probably have produced better numbers. …
“The data in the study didn’t prove that the mutual fund managers lacked talent or that you couldn’t beat the market. But, as Keith Loggie, the senior director of global research and design at S.&P. Dow Jones Indices, said in an interview last week, the evidence certainly didn’t bolster the case for investing with active fund managers.”
http://nyti.ms/1FpEo5s
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