“Chastened by the 2000-02 crash, the mutual fund industry has morphed into a 401(k) bureaucracy, cranking out bland diversified funds and packaging them into “life cycle” portfolios that you don’t have to think much about.
All the glitz these days is in the secret-handshake world of hedge funds. Meanwhile, for those who just want a cheap and easy way to get into the market, exchange-traded funds (ETFs) are giving mutual funds a serious run for their money.”
