The LA Times reports that top-performing and poor-performing mutual funds are unlikely to repeat their 1998 records if the past is any guide, according to a study by Financial Research Corp. In other words past performance is no indication of future performance--sound familiar?

Also in The LA Times, an early review of Merrill Lynch's new "human achievement" ad campaign.

The 18% gain in the Nikkei this year has caught the attention of fund managers, and they're starting to put money back into the long-struggling Tokyo market, according to The Wall Street Journal. 

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