Trust your money to the experts. The dead experts. From the WSJ:
ING Corporate Leaders Trust has outperformed most of its competitors over the past decade, thanks to outsize holdings in energy and railroads, which both benefited from rising oil prices. The fund was also underweight in financials, which helped it dodge the worst of the 2008 bear market.
So who is the savvy portfolio manager who made those bets?
There is no such manager.
Which is impossible, right?
The 22 stocks in the $750 million portfolio are all descended from a portfolio chosen in 1935, set up so the stocks wouldn't be traded except in a handful of cases, such as a dividend elimination, a debt default or a downgrade. David Snowball, publisher of the Mutual Fund Observer website, calls it "the ghost ship of the fund world."
Sometimes doing nothing is the right move. And sometimes -- maybe most times -- the "experts" are unnecessary.