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To: shres who wrote (22982)8/3/2006 11:27:14 AM
From: Kirk ©  Read Replies (2) | Respond to of 42834
 
Do the math... He did not say 100%, he said 88%. That means 12% beat the index funds. We've had a very big bear market since he wrote that book so managed funds have done better than typical just as Hulbert showed market timers on average beat the index funds about 50% of the time when using a 5 year window ending 12/31/05. I could be off a few percent, but I think the numbers today would be roughly 80%, not 88% but the key is many do beat the averages over the long haul. Quibbling over 12 or 15% is not the issue.