Joanna
-------------- Original message ----------------------
From: Doug Henwood <dhenwood at panix.com>
>
> On May 4, 2008, at 1:43 PM, Joseph Catron quoted:
>
> > An important reason for this
> > underperformance is the fact that fund managers can end up skimming
> > off more than 25 percent of the fund as a fee for their services. The
> > study does find that some funds do consistently better than the
> > average, but it's not clear why most funds underperform.
>
> Because it's nearly impossible to beat the market consistently,
> unless your name is Soros or Buffett - even before fees and
> commissions. As I've said a bunch of times before, most people who
> are saving for retirement would do best by putting their money in a
> Vanguard index fund and leaving it alone for 30 years.
>
> Doug
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