Stock Market Averages.  I'm interested in what the average INDIVIDUAL
investors and PROFESSIONAL MONEY MANAGER do over time in the stock
market.  Not the market averages.

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Request for Question Clarification by hedgie-ga on 04 Jun 2003 05:10 PDT

I recall a study which compared professional managers
to throwing darts. 
If I dig that out - would that be acceptable aqnswer?

P.S. Darts won. That was before .com bust.

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Clarification of Question by silentpartner-ga on 04 Jun 2003 11:34 PDT

I was hoping for something a little more statistically sound than that.

Something  like this?

       This light article from The Fools quotes a study done at UC
Davis:
   http://www.fool.com/EveningNews/foth/1998/foth981020.htm

 That quoted article is gone, but  leads to following papers by   prof
 Odean
  http://faculty.haas.berkeley.edu/odean/Current Research.htm
 which contrasts behavior of individual vs. professional investors.

 Here are data on performance of individuals
       The Common Stock Investment Performance of Individual Investors
     http://faculty.haas.berkeley.edu/odean/papers/returns/returns.html

     Evaluation of  advice given by professionals
     objective newsletter-tracking methodology, overseen by the same
advisory board of finance professors,
    statisticians, accountants, and independent money managers.
        http://cbs.marketwatch.com/commerce/hfdProduct.asp?siteid=mktw&dist=hfdgoogle&pname=hfd

         Performance history of professionally managed funds 
(membership fee)
  http://www.morningstar.com/

search terms
  performance stocks return
  Hulbert , statistics comparison, individual

hedgie