The ongoing Bitcoin frenzy

Don’t overlook traditional mutual funds
Some of the year’s best-performing mutual funds are still losing customers at a record pace, said Michael McDonald and Annie Massa at Bloomberg. “Will Danoff’s $134 billion Fidelity Contrafund returned 32 percent last year, nearly 15 percentage points better than the S&P 500.” But investors yanked a net $23.4 billion out of the fund this year. By contrast, more than $200 billion poured into exchange-traded funds that are now “on course to permanently supplant human decision-makers.” Active managers with stellar records are struggling to attract new money over the cheaper alternatives.


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