[bkruse]

I think in a big rhythmic cycle, that may be true. I have friends that are fund managers that say, now, the market is completely and totally efficient, and that people making money are just "lucky" - both are interesting and somewhat valid! If 10,000 funds trade, there will be some profitable one (even though there were SO few in 2008). It's an interesting study, even if you aren't a trader