IT'S TOUGH TO FIND FUND WHIZZES

摘要

If picking stocks is a random walk down Wall Street, as Princeton economist Burton Malkiel famously put it, then picking mutual funds is an obstacle course through Hell's Kitchen. True, by focusing on low-cost funds and those small enough to trade stocks nimbly, you can tilt the odds in your favor. Yet even the smartest, most determined fund-picker can't escape a host of nasty surprises.