Even if you have not been good this year, fret not, you still have something under the tree from me. Every six months, the S&P Indices publishes a review of mutual fund performance specifically tracking the performance by the hot hand of prior years. They examine the persistence top half and top quartile (for Auburn folks the latter translates to top 25 percent) funds exhibit.
For actively managed mutual funds, the results are the proverbial lump of coal. Of the funds in the top half in September 2005, only 4.16 percent of large-company funds and 4.55 percent of small company …Read More