Sunday, November 23, 2008

The Only Equity Fund up Through Thursday, Down Through Friday

Business Week reports:

Out of the 11,585 U.S. and international stock mutual funds tracked by Morningstar Inc., 11,584 have lost money in 2008, according to fund data through Nov. 20.

In other words, just one fund hasn’t lost money this year—and that is the APX Mid Cap Growth Fund, which was flat through Thursday’s close. That’s right, folks, its return—or lack thereof—is a mere zero thus far in 2008.

Unfortunately, the APX Mid Cap Growth Fund took a turn for the worse on Friday, dropping 3% and turning year to date returns negative.

Hey look at the positive, the equity turnaround Friday probably turned one of those other 11,584 funds positive... right?

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