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Fund size and investment return


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In looking at some mutual funds, it appears the best funds beat the averages by 5% per year but Graham advised this as the minimum amount to waste your time on in the Intelligent Investor.  With the trend of more $ going into institutional hands, it would make sense that there would be a group of stock to small for these investors to invest in to move the needle in terms of performance and fees.  Have folks on this board noticed this also?  I have noticed most of my stocks are below the $100 to $150 m level except insurance companies. 



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