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Why Pay Your Manager for Doing Nothing?

Stock quotes in this article: ABLSX , AICBX , NMIAX , CUBCX , FLEPX , FEIBX , ILATX  

Benchmarks such as the S&P 500 are the standard by which most mutual fund management careers live and die.

Some try to outperform the gauges at the risk of potentially outsized setbacks during periods of weakness.

Others seem content to never suffer a deeper loss than that of their fund's benchmark. ...

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