The Myth of the Dumb Fund Investor

The myth about mutual fund investors goes like this: 1) Mutual fund investors are bad at selecting funds. 2) If investors were to hold index-only funds instead of the rotten funds that they choose, they would be far better off. 3) Thus, mutual fund investors are the dumb bunnies of the investment industry.

John Rekenthaler 18 June, 2012 | 0:00
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The myth about mutual fund investors goes like this:

1) Mutual fund investors are bad at selecting funds.

2) If investors were to hold index-only funds instead of the rotten funds that they choose, they would be far better off.

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John Rekenthaler  is vice president of research for Morningstar.

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