From the tables below, you will see the Top Ten Mutual Funds drop from 1st place to nearly last place among all funds within in 2 to 4 years. According to Dalbar research, the average investor holds a mutual fund for only 2.9 years.
Most investors buy right at the top and sell at the bottom.
The tables below list the rankings by year for each of the top ten mutual funds, and the total number of mutual funds for that year. You can see how poorly those same funds did in subsequent years. Once again you can see that track record investing is a waste of your time and money. Let's move on the Step 6. Past performance is not indicative of future performance.