Managed funds versus index funds in bull and bear markets
The letter argues that index funds outperform actively managed funds in rising markets while managed funds reduce losses in declines by holding cash. Over 12 months to Aug 31 Morningstar shows large blend funds trail the S P 500 by 2.16 points, with varying gaps over 3, 5, 10 and 15 years. It concludes that, after costs, managed funds are a losing bet unless they beat benchmarks enough to justify fees.
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Morningstar
Mark Hulbert
The
Hulbert Financial Digest
Alcoa to expand Iowa rolling mill for aerospace plate
Alcoa will invest 190 million at its Davenport Works to install a very thick plate stretcher for aluminum and aluminum-lithium plate. The project aims to produce the largest high strength monolithic aircraft wing ribs as composite wings grow. Construction starts 2015 with output expected 2017.
MENTIONED IN THIS ARTICLE
Alcoa
Davenport Works
Mark Vrablee
Alcoa Aerospace Transportation & Industrial Products
George
Ford
Thegazette
U.S. trade deficit widens as exports slump in September
The Commerce Department reports a 7.6 percent rise in the September trade gap to 43.08 billion, with exports falling 1.5 percent to 195.59 billion. The wider deficit may shave up to half a point from Q3 GDP growth while reflecting softer demand in China and the euro area.
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Commerce Department
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Euro Zone
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