There is almost no limit to the ability of investors to ignore the lessons of the past. This cost them dearly last year. Here are six of the most important of these lessons:
1) Beware of market forecasts, even by experts.2) Never underrate the importance of asset allocation.
3) Mutual funds with superior performance records often falter.
4) Owning the market remains the strategy of choice.
5) Look before you leap into alternative asset classes.
6) Beware of financial innovation.
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