Beware the returns of March (and beyond)

As the first quarter of 2008 comes to a close, it is now a common time for people to check their investment performance and investigate new investment opportunities. If you look at the investment performance of various mutual funds (e.g. US large cap), many of them had terrible performance in 2001 and 2002 (even when compared to what we’ve experienced these past few months).

Beginning with 2008, advertised 5-year performance figures will not include these “spurious” old returns. Caveat emptor…