Quarterly Thoughts – Q4 2007
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Quarterly Thoughts – Q1 2007
Recent volatility has made some investors nervous. However, the recent Dalbar study update is a reminder of the long-term opportunity cost of emotional investing: The S&P 500 Index’s average annualized return over the last 20 years was 11.9%, while the average equity mutual fund investor’s return was just 3.9%. This equates to a loss of 8% per year over 20 years, due to emotional investing, and illustrates the value of…