11 Lessons From A Losing Fund

There's a lot to learn from Garrett Van Wagoner, whose Van Wagoner Emerging Growth fund had a horrendous 12 years.

Garret Van Wagoner is departing the stock picking business -- finally. Van Wagoner says that his firm plans to hire outside managers to run all but one of its funds. The other will be a fund of funds run by Van Wagoner. Too bad his firm didn't act sooner. It would have spared investors a lot of grief.

Before we bid adieu to Van Wagoner, we can glean some valuable lessons from him about how not to invest, both in stocks and in mutual funds.

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Steven Goldberg
Contributing Columnist, Kiplinger.com
Steve has been writing for Kiplinger's for more than 25 years. As an associate editor and then senior associate editor, he covered mutual funds for Kiplinger's Personal Finance magazine from 1994-2006. He also authored a book, But Which Mutual Funds? In 2006 he joined with Jerry Tweddell, one of his best sources on investing, to form Tweddell Goldberg Investment Management to manage money for individual investors. Steve continues to write a regular column for Kiplinger.com and enjoys hearing investing questions from readers. You can contact Steve at 301.650.6567 or sgoldberg@kiplinger.com.