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2008 and stocks? Not so good so far
How did your investments do in the first quarter? Not so good?
Sorry, you're not special.
According to Lipper, a mutual fund tracking firm that is a unit of Reuters, the average U.S. diversified stock fund lost 10.11 percent in the first quarter. World stock funds, including those that invest overseas and those that invest domestically and internationally, lost 9.6 percent.
You could have lost even more money if you were in a China fund (down 21.24 percent) or a small value stock fund (down 14.9 percent).
In fact, one of the few ways in which mutual fund investors made any money at all in the first three months was to bet against stocks. Funds devoted to shorting stocks, which gain when stocks decline, rose 12 percent.
Hint: When was it you heard China funds were hot, hot hot? That's so 2007.
Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...
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Posted by: Madhali | July 31, 2008 5:48 AM