Some of these, I found simply incredible. http://seekingalpha.com/article/30118 1. Mutual fund investors are bound to lose (and in most cases you pay the fund manager outrageous sums to lose you money) 2. Most investor are ill-equipped to pick individual stocks 3. Index funds are the best way for the average person to invest in the market and reap the full benefits of the U.S. economy 4. Between 1994 and 2004 Morningstar 5 Star (Top Rated) Funds returned 6.9% annually vs 11% for the Total Market. 5. After the market bubble of 1997-1999, the "Top 10" funds from those years plummeted. From 2000-2002, not a single one was ranked higher than 790 and they were outperformed by 95% of their peers. 6. From 1982-1992, the top fund in each year averaged a ranking of 285 the following year. 7. From 1995-2005 the top fund in each year averaged a ranking of 619 the following year. 8. Of the 1,400 mutual funds out there, in the last 40 years, only one has beaten the market for 15 consecutive years (and that streak just ended in 2006) Legg Mason Value run by Bill Miller.