Don't Invest like a Mutual Fund

Only 9 Large Cap Mutual Funds With 10 year Returns in Excess of 10% Annually:
Mutual fund managers are handsomely paid for what is mediocre performance on average. In fact, a recent glance at Kiplinger's list of top mutual funds. I ran a of the top returning large cap funds based on 10 year annualized returns. There are only 9 large cap mutual funds that have 10 year annualized returns of 10% or more (note that this data is through Sep 30, 3008, so doesn't include October's declines). There were no large cap growth funds with 10 year returns in excess of 10% annually. There were 4 large cap growth funds with returns in excess of 10% and 5 large cap blend funds.

It blows me away that so few managers can significantly outperform the market, even if by luck. It should also be noted, that the Dow was barely up (10%) during this 10 year time period. But with hundreds, if not thousands, of large cap funds wouldn't you hope for a few more outliers?

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