Robert Shiller's S&P CAPE valuation data suggests moderate headwinds for large-cap stock funds, and even active funds may feel the drag.
Lawsuit evidence shows some portfolio counselors voiced concerns in a 2004 internal survey, but the funds' strong performance is hard to fault.
There are several reasons to worry.
How Joel Greenblatt's magic formula stacks up against some popular mutual funds.
Even if the market looks dear, stick to your planned allocation or find a seasoned manager who can adjust it for you.