Today in a special section of the The Wall Street Journal
there is an article
about the seven-year returns of mutual funds. We find ourselves asking: Is this article news? Perhaps. Is this article accurate? Most likely. Is this article important? Kind of. Is this article fair? Most certainty not. No fund goes by seven-year returns.
The article looks at 12-month returns in the period before March of 2000, 12 months that have to be the most anomalous years in the fund industry since the go-go years of the 60's. Needless to say. only 37 of these funds have topped the market since 2000 and 97 have closed altogether. The one beneficiary of the story is the Turner Emerging Growth Fund
, which is highlighted as the only fund that posted growth, up an average of 9.6% a year in the last seven.
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