Why would anyone want to listen to an underperforming fund manager?  It really bothers that these guys can come on TV and give there “expert” opinions about how the market is bottoming.  Just now, CNBC had a fund manager on TV talking about his wonderful stock picks.  It’s too bad his fund is down 46% YTD (only slightly worse then the S&P 500).  I’d rather just own the SPY and not have to the pay management fees.