Investors holding mutual funds in 2008 that dropped 30 percent or more may think the funds were among the worst funds anyone has ever owned. Think again. There is one fund that many agree qualifies as the worst ever (not counting outright frauds like Bernie Madoff’s) – the Steadman Technology & Growth Fund.
The Steadman family of funds started in 1939, but it recently came to my attention through a June article in ValueWalk.com. According to the article, ever since Charles Steadman assumed personal management of the funds in the early 1960s, they were always at the bottom of the performance charts.