BGR, 100s of 1000s of mutual funds? I've told you a million times not to exaggerate. <G> In 1985 there were less than 1100 mutual funds. And that was after a huge growth spurt. When Pioneer started, there were something like 5. When ICOA started, it was more like 12 funds. You are mistaking a 1990s bubble in fund creation for history. Nuh, uh, if you want to do 40 year histories. I simply picked those two funds because I know they existed during the Depression. Wellington Fund did, too, but it is balanced and, at that time, balanced meant 50/50 stocks and bonds. So, when they made money in 1929, it isn't really fair to compare them to the crash and burn of the indices.
I agree that focusing on your job is more important than investing for most people. That's why 401K plans suck so much. But, given the co. matching funds, most people have made a little money, even if they've indexed.
I agree that active traders like Warren Buffett and Peter Lynch and George Soros are aberrations. Very few can hope to duplicate their success. But where are the indexing aberrations? With active trading, it is at least possible to make billions. With indexing, it is only possible if you start with a fortune. |
