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Fund Spy

Fine Fund, Lousy Year

Was a horrific 2008 boringly predictable or a preview of coming disasters?


The past isn't always prologue, but that turns out to be the case often enough that investors can benefit from paying close attention to it. With the third anniversary of the market's March 2009 nadir approaching, I'm gauging whether the managers of the funds I follow have learned from their mistakes. In certain cases, I'm also assessing whether they made any.

For an upcoming issue of Morningstar FundInvestor, I'm researching the current and historical financial-health profiles of the U.S. stock funds that fared the worst during the market's 2007-09 downturn. Among other things, I'm reviewing the pre- and post-crisis portfolio data for these funds to determine if their managers have altered their approaches and, if so, how the composition of their portfolios has changed.

Shannon Zimmerman does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.