Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
I think of this as the tyranny of the blank page. These guys have to produce something of a specified length, on a predetermined publication schedule and so you occasionally end up with "huh?" articles. Here's the fundamental insight: there are years in which the average return of a collection of funds (small and large cap, foreign and domestic, stock and bond, sector and diversified) is below the average of any given index. Firms which have more exposure to lagging categories, lag more.
Comments
Uhhh . . .
David