61.   But cash flows at the Vanguard Group, which operates the largest index funds, have slowed only slightly.

62.   But Churchouse noted that index funds and mutual funds have never been popular here, because investors enjoy picking stocks and trading them almost as a sport.

63.   But he has not foresaken his faith in index funds, and the fact remains that few fund managers beat the market over the long haul.

64.   But he recommended index funds for all large-company investing.

65.   But is an index fund the single answer to all your investment worries?

66.   But in these bearish times, index funds that simply mimic the performance of popular stock and bond indexes are taking the lead.

67.   But index funds are not universally popular.

68.   But investors who own a mix of momentum, international and index funds are doing just fine.

69.   But outside the main index fund, CalPERS enhanced this performance a little.

70.   But that is still far higher than is common for an unmanaged index fund.