G20

The lack of positive news from the G-20 meeting in DC disappoints almost everyone.  In Asian trading the Dollar and Yen move up as Japan it the latest country to slip into recession.  Not a promising sign. Tomorrow news includes the Goldman senior execs giving up bonuses but accepting their $600,000 salaries and Citi terminating as many as 40,000 employees.  Merry Christmas!

And from Teresa Lo some news for those paying “management” fees:

S&P index bests most actively managed funds
The Standard & Poor’s 500 stock index outperformed most actively managed mutual funds for the past five years, according to the New York-based firm’s latest research. For the five-year period ended June 30, the S&P 500 outperformed 68.6% of actively managed large-cap funds. In addition, the S&P MidCap 400 outperformed 75.9% of actively managed mid-cap funds and the S&P SmallCap 600 outperformed 77.8% of actively managed small-cap funds.