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1.Market Observations, 8.Was Sticky

17 Sept 2016 (AFR) – The dirty little secret on Wall Street: pros lag bull market

(17 September 2016, AFR, p27, by Philip Baker)

‘Investors in the United States stockmarket should be happy. But they’re not. The bull market, that’s now been going for almost eight years, might just turn out to be the most hated bull market of all time. Why ? Not enough money is being made.’ <snipped…>

‘According to Morningstar, just under 10 per cent of actively managed large-cap equity funds in the US out-performed the S&P 500 Index in the five years ended August 31, the worst five-year performance since 1999. That compares to the start of the bull market when for a few years there- think 2009, 2010 and 2011- close to half of all fund managers were getting it right more often than not.  Little wonder then that investors are voting with their wallets and taking money away from fund managers.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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