Most U.S. Stock Pickers Failed to Beat Index Last Year, S&P Says
- Study finds the pattern persists over five and ten years
- Managers who bought international equities fared better
Pedestrians walk past the New York Stock Exchange.
Photographer: John Taggart/BloombergThis article is for subscribers only.
Chalk up another victory for indexing.
Sixty-six percent of mutual-fund managers who buy large U.S. stocks underperformed the benchmark Standard & Poor’s 500 Index last year, according to a study by S&P Dow Jones Indices.
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Most U.S. Stock Pickers Failed to Beat Index Last Year, S&P Says