The Vanguard S&P 500 fund has outperformed over 90% of all domestic equity mutual funds over the past three and five years (and a much higher number if you include bond and international equity funds).
I am pleased with that performance and do not demand more. Plus, I like that my fees are a fraction of managed funds.
Since 1990...the expense ratio of the average fund, that is the average amount of expenses that a fund charges its shareholders every year, was about 1.3% during the period. (Over the last couple of years expense ratios have been rising further and currently stand at 1.5%.) By comparison, the Vanguard S&P 500 expense ratio is 0.19%
Pete is smart. If you buy a mutual fund with a load, you are a complete dumbass.
Regarding Apple, a friend of mine a month or so ago randomly asked me about the stock and said, "I think I am going to buy some, I think it is going to keep going up". I fracking knew instantly I should have sold, but I didn't.