Mediocre But Rich

The NYPost studied five years of mutual fund performance:

Scores of piggish mutual-fund managers got wealthy over the last five years but delivered investors poor results, an analysis of fund performance records by The Post reveals.

The fund managers pocketed the high management fees — adding to the funds’ losses while investors were slammed in their 401(k)s and in other fund accounts — but delivered results that didn’t even beat the S&P 500 Index.

That means investors would have been better off ignoring the professional stock pickers…