We can't help but love the Wall Street Journal's Jason Zweig. When commenting on the latest fund manager winning streak, he recently wrote the following:
"So does the average fund manager--long derided as the functional equivalent of a blindfolded chimpanzee--deserve an apology and a round of applause?
"In a word, no."
According to Zweig, the current market is in many respects the inverse of 2008, which means fund managers that were down then are up now. It's the functional equivalent of a stopped clock telling the right time twice a day.
"So the world hasn't been turned upside-down. Fund managers haven't become a flock of Einsteins, and low-cost index funds remain the best choice for most investors."