FYI: During the late-1990s tech-fueled boom, one of the laws of the asset management industry was that money followed returns. Back then, a new fund--especially one with "technology" in its name--could count on massive inflows after just one or two big years. This was in keeping with the belief that retail mutual fund investors were the "dumb" money and they could be counted on to behave like lemmings.
Regards,
Ted
https://www.morningstar.com/articles/902840/have-investors-stopped-chasing-returns.html
