From Business Week: Every Stock Mutual Fund Has Lost Money in 2008, Except One.
Out of the 11,585 U.S. and international stock mutual funds tracked by Morningstar Inc., 11,584 have lost money in 2008, according to fund data through Nov. 20.
In other words, just one fund hasn’t lost money this year—and that is the APX Mid Cap Growth Fund, which was flat through Thursday’s close. That’s right, folks, its return—or lack thereof—is a mere zero thus far in 2008.
So long, buy-n-hold DCA-into-401(k) lemmings!
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2 comments:
Um, how does this have anything to do with DCA? In fact, now is a great time to DCA into just about anything, since prices are depressed. You get more units for your dollar. Assuming, of course, that your time horizons are in order. Of course it is stupid to use a buy and hold strategy if you can't stomach the risk, but that is true independent of market conditions.
Keep believing the academic literature, and keep getting sheared then.
I'll just quote Buffett's immortal quote, "The price you pay determines the return you get."
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