Brainless Business Reporting by Vikas Bajaj and Carole Gould
Eric Umansky is driven into shrillness by the brainless business reporting of Vikas Bajaj and Carole Gould. Don't read the New York Times. Buy the Financial Times instead: it doesn't do things like this.
Here is Eric Umansky:
Eric Umansky: Brainless Business Reporting: It is common knowledge most actively traded mutual funds are for suckers. Over the long term, the vast majority of actively traded funds underperform the overall stock market. The key phrase is here is "long term." Plenty of funds have a good quarter here and there, but that doesn't tell you much about the fund in the end. Yes, I know. It's all very obvious.
It's just that might want to tell the New York Times business section, which today another one of its occasional (quarterly!) sections on Mutual Funds. What does it do with all its space an accumulated wisdom? Well it focuses on those funds that have done best over....the last quarter. And delivers hyper-unintelligent copy like profiles of the genius money managers whose funds kicked butt during the quarter. Why do they do it? My guess is that it's just something the NYT has long done and is now on auto-pilot. Plus, it makes for easy copy. And of course even easier handy, dandy brainless graphics...
