Steady Hands For Unsteady Times

Investing in mutual funds has always been a long-term proposition, but during the 1980s, the payoffs often came quickly. In seven of those years, equity mutual funds generated double-digit returns. In 1987, the year of the greatest stock market crash in history, the average equity fund still delivered a 3.3% total return. Even in the decade's down years, 1981 and 1984, fund losses were slight, only 1.1% and 1.7%.

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