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Politics : Ask Michael Burke
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To: BGR who wrote (96304)6/26/2002 4:37:58 PM
From: Knighty Tin  Read Replies (2) of 132070
 
BGR, Pioneer Fund has basically outperformed the 500 since 1928, which is a bit longer than 40 years. Investment Co. of America has done the same but from a slightly later date.

Indexing did not build nominal wealth from 1968 to 1982. Lord Abbett's Affiliated Fund did. Or from 1929 to 1952. ICOA and Pioneer did. It is true that if you are willing to be a loser for 14 years or 23 years that you may have added to your nominal wealth at the end of a 40 year period. Adjusted for taxes and inflation, you will probably lose spending power, but you won't be totally broke.

However, I am not a defender of mutual funds. They are fine when stocks are cheap. But there are many, many better places to invest when stocks are as pricey as they were during the late 90s. And still are.
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