Don’t disregard past performance when choosing fund

Leafing through newspapers and magazines, I ran into these mutual fund ads:

From Janus: “100 percent of Janus equity funds have beaten their benchmarks since inception.”

From T. Rowe Price: “Proven performance that has stood the test of time. For each 3-, 5- and 10-year period ended Dec. 31, 2009, over 75 percent of our funds beat their Lipper average.” (That refers to the average performance of funds tracked by Lipper, a fund analysis firm.) Read the full story »