Wall Street: The Funds Are Falling

The managers of mutual funds have been performing poorly lately. During this year's first half, the composite in dex of shares listed on the New York Stock Exchange dropped an average 8%. The decline for mutual funds was close to 12%. Of the 369 funds ranked by Manhattan's Arthur Lipper Corp., only six managed to post any gains.

Generally, the funds that rose the fast est last year fell the fastest this year.

Not one of the ten biggest gainers of 1968 managed to climb at all in this year's first half. Their showing confirmed Wall Street's axiom that"go-go" funds can...

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