It's A Stock Picker's Market

I've always disliked that saying even though I've heard it consistently this year. For one thing, I don't know a market in which a good stock picker isn't required. After all, if you're going to beat the market, you always have to pick the right stocks to buy. Right?

In addition, I'm not surprised to read this morning that the majority of mutual funds are still underperforming the S&P 500 this year. You would think that this year, unlike previous ones, portfolio managers could show how their skills and knowledge could produce better returns through active portfolio management. But the stats clearly don't confirm this view. READ