From: John Boyle 
Newsgroups: misc.invest.stocks uk.finance misc.invest.mutual-funds
Subject: Re: Why Managed Funds are Bad for your Wealth
Date: Thu, 28 Jun 2007 22:17:31 +0100
Bytes: 2605

In message , Norman Wells 
 writes
> In fact, the evidence is that 73% of fund managers are unable to beat 
>investment at random by more than 2%.

AAARRRGGGHHHH, there you go again! where do you get that from? 73% cant 
beat investment 'at random'. The OP said 73% dont beat 'the index'.

Stocks at random <> the index


>There is no known methodology that the successful ones use that can be 
>independently verified as being reproducible, and the existence of such 
>methodology cannot be inferred from the fact that there are some fund 
>managers who manage to buck the trend for a few years.

Agreed. It is an art.

-- 
John Boyle