Marketwatch's Chuck Jaffe - Absolutely No Reason to Buy 'Absolute Return' Funds

``the 'average' absolute return fund provided a net positive return over the 3 year cycle of 2008-2010, without the huge drawdowns in 2008 that caused panic attacks and sleepless nights. Further, knowing how human psychology works many humanoids pulled money out of the market between fall 2008 and early spring 2009 - at the market's lows. If they had done this in a normal mutual fund they would probably sold at a trough of -40 to -50%. If they had done it in the 'average' absolute return fund, they would have locked in a 12.7% loss.''