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Football teams field different players on offense and defense because the skill sets for each side are highly specialized. Investors who aim to outperform in bear and bull markets should consider a similar approach—especially now that today’s bull market could be in its last quarter.
The funds that investors should be considering right now don’t look great in terms of recent performance. Of the 50 top-performing U.S. stock funds during the 2007-09 bear market, 48 have trailed their category average in the ensuing bull market, according to data from Morningstar. The same is true in reverse: Many of what have been the top 50 fund stars fell to last place during the bear market.
Regards,
Ted
https://www.google.com/#q=As+the+Market+Slows,+Play+Offense+and+Defense+barron's
