Why this fund’s 256,766% return still doesn’t beat the market

(Aug 18): Kevin Beatty can take the long view on investing. Ninety-three-years-long, to be exact.

From his perch in Boston, Beatty co-manages the oldest mutual fund in America, if not the world. Opened in the Roaring Twenties, when Calvin Coolidge was president, the Massachusetts Investors Trust has weathered 16 recessions, roughly 20 bear markets and worse.

What it hasn’t done is beaten the stock market over the long haul.

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