True,
I remember one time in 2007 Smart Money magazine and other so called smart cookies gave very high ratings to this fund and fund managers. I think all these financial magazines are the members of the same club. I do not see any reason to believe that fund managers are smarter then any Joe with some financial information. Equity income fund price is still way below the 2005!
I think even current market upturn does not look solid. Unemployment is still growing, more jobs are going out, FED, stats, and local govt are in deep debts. So just think how can you bring up 70% consumer spending based economy up? This is not Obama's fault. I think more dark days are ahead and the light you see at the end of tunnel is nothing but a fast moving train! So hedge against such storm!!