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John Bogle Opinion Piece: "I Told You So" posted by tony
"If there is anything that mutual fund investors have learned during the volatile past decade, it's that the past is not prologue. Between December 1999 and December 2009, U.S. stocks on the S&P 500 had an annualized total return of -0.9%. That's one of the four lowest for any decade in the past century and a far cry from the long-term average of 8.1%. "A mutual fund's past returns are no guarantee of its future. Even the most sophisticated rating systems are erratic at best in forecasting a fund's performance in the years ahead. But for decades, academic experts and ..." Entire piece available from The Wall Street Journal
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