Monkeys Beat the S&P 500
Like usual, in 2006 the S&P 500's performance beat more than half of large-cap actively-managed funds. To be precise, the index beat 69% of funds which is a little higher than its five-year 57% beatdown average.While the preceding is no longer news to most informed investors, what is interesting is that despite beating more large-cap funds than usual, a whack of funds still beat the S&P. That will be a balm for active-fund fans, while non-believers will simply see it as an enticing random walk at work.
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