Mutual Funds: "There's Been A Sobering Up"

The average equity fund rose just 0.4% in the third quarter as New Economy darlings took a licking

When they rang in the 21st century, investors in growth funds were intoxicated by the soaring returns of technology stocks and mutual funds that invest in them. Since then, the stock market has acted more like a glass of stale champagne: flat, with no bubbles. Now, in the third quarter, few are in party mood.

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