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Financial Flimflam: Why Economic Experts’ Predictions Fail
(by Michael Shermer -- February 22, 2011)
Scientific American's Michael Shermer recounts John Stossel’s skepticism of active investment fund management. "In a dramatic visual demonstration, Stossel threw 30 darts into a page of stocks and compared their performance since January 1, 2010, with stock picks of the 10 largest managed funds. Results: Dartboard, a 31 percent increase; managed funds, a 9.5 percent increase."
