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Unless you were a short-seller it was really, really hard to lose money in 2009

The S&P 2009 returned 26.46% in 2009. That's what you could have returned by just by a low-fee ETF and then going to sleep and waking up a year later.

But despite the fees and the longstanding criticisms of the industry, it persists and pulls and gigantic sums of money every year.

We decided to check out the fund managers who didn't keep up in 2009, and didn't deliver.

Several made money, but compared to the broader markets, their investors lost out.

Now of course, this is just one year's performance, but for better or worse, investors tend to look back just one year.

15. Julianne Bass, Denbow Dan, Wasif Latif (pictured), and more.
15. Julianne Bass, Denbow Dan, Wasif Latif (pictured), and more.
Fund: USAA Global Opportunities (UGOFX)

2009 Annual Return: +18.90%

YTD: -2.82%

The S&P 500 YTD: 3.6%

Top 5 holdings: iShares MSCI Emerging Markets Index, Deutsche Igap Investment Trust "b" (Acquired 8/01), Microsoft Corporation, Kimberly-Clark Corporation Comm, and AT&T Inc.

Source: Morningstar


14. Ronald Rog and Steven Rog
14. Ronald Rog and Steven Rog
Fund: Roge Partners (ROGEX)

2009 Annual Return: +18.86%

YTD: -1.89%

The S&P 500 YTD: 3.6%

Top 5 holdings: IVA Worldwide I, First Eagle Global I, Artisan International Small Cap Investor, Royce Opportunity Invmt, and Vanguard PRIMECAP Core

Source: Morningstar


13. Keith Colestock (pictured), Glenn Carlson, Amelia Morris, Jeff Germain, and more.
13. Keith Colestock (pictured), Glenn Carlson, Amelia Morris, Jeff Germain, and more.
Fund: Brandes Institutional Global Equity I (BGVIX)

2009 Annual Return: +18.07%

YTD: -1.75%

The S&P 500 YTD: 3.6%

Top 5 holdings: Merck & Company (Inc. Common St), DTE Energy Company Common Stock, Pfizer, Inc. (Common Stock), Dow Chemical Company (The) Comm, and Texas Instruments Incorporated.

Source: Morningstar


12. Janet Brown (pictured), Jason Browne, Bernard Burke, Martin DeVault, and Sean McKeon (pictured)
12. Janet Brown (pictured), Jason Browne, Bernard Burke, Martin DeVault, and Sean McKeon (pictured)
Fund: FundX ETF Upgrader (REMIX)

2009 Annual Return: +17.10%

YTD: +4.43%

The S&P 500 YTD: 3.6%

Top 5 holdings: iShares Russell 1000 Growth Index, Vanguard Growth ETF, Rydex S&P Equal Weight, iShares MSCI EMU Index, and Vanguard European ETF

Source: Morningstar

11. Matthew Benkendorf and Rajiv Jain
11. Matthew Benkendorf and Rajiv Jain
Fund: Virtus Global Opportunities A (NWWOX)

2009 Annual Return: +17.03%

YTD: +3.12%

The S&P 500 YTD: 3.6%

Top 5 holdings: Philip Morris International Inc, British American Tobacco PLC, Abbott Laboratories, Imperial Tobacco Group PLC, and Coca-Cola Company

Source: Morningstar

10. Dana Nelson and Matthew King
10. Dana Nelson and Matthew King
Fund: Bell Worldwide Trends (TRNDX)

2009 Annual Return: +16.85%

YTD: +2.50%

The S&P 500 YTD: 3.6%

Top 5 holdings: SPDR S&P International Dividend, Rydex S&P 500 Pure Growth, PowerShares FTSE RAFI Europe, PowerShares FTSE RAFI Dev Mkts ex-US S/M, and PowerShares FTSE RAFI US 1500 Small-Mid.

Source: Morningstar

9. Connie Luecke and Randle Smith
9. Connie Luecke and Randle Smith
Fund: Virtus Global Infrastructure A (PGUAX)

2009 Annual Return: +16.16%

YTD: -2.36%

The S&P 500 YTD: 3.6%

Top 5 holdings: AT&T, Inc., Enbridge, Inc., TransCanada Corporation, Vodafone Group PLC ADR, and Williams Companies, Inc.

Source: Morningstar

8. Michael Nolan, Arthur Robb (pictured), and Helen Krause (pictured)
8. Michael Nolan, Arthur Robb (pictured), and Helen Krause (pictured)
Fund: Morgan Stanley Global Infrastructure B (UTLBX)

2009 Annual Return: +16.04%

YTD: -2.08%

The S&P 500 YTD: 3.6%

Top 5 holdings: Atlantia, Williams Companies, Inc., GDF Suez, Abertis Infraestructuras, S.A., and Enbridge, Inc.

Source: Morningstar

7. Jean Beaubois (pictured), Arthur Pollock, Margaret Naylor (pictured), Nathalie Degans, and more.
7. Jean Beaubois (pictured), Arthur Pollock, Margaret Naylor (pictured), Nathalie Degans, and more.
Fund: Morgan Stanley Global Div Gr Secs B (GLBBX)

2009 Annual Return: +15.95%

YTD: +1.28%

The S&P 500 YTD: 3.6%

Top 5 holdings: Philip Morris International Inc, British American Tobacco PLC, Bristol-Myers Squibb Company, CRH Pl, and Eni.

Source: Morningstar

6. Scott F. Klimo (pictured right), Mark Kress, Yon Perullo, and David Whittall (pictured left)
6. Scott F. Klimo (pictured right), Mark Kress, Yon Perullo, and David Whittall (pictured left)
Fund: Rydex/SGI Global 130/30 Strategy C (RYQCX)

2009 Annual Return: +12.35%

YTD: -0.48%

The S&P 500 YTD: 3.6%

Top 5 holdings: Express Scripts, Mitsui & Co., Ltd, Julius Baer Gruppe AG, DBS Group Holdings, Ltd., and Check Point Software Technologies, Ltd.

Source: Morningstar

5. John Chisholm (pictured right), Ronald Frashure, Charles Wang (pictured left), Harindra de Silva, and more.
5. John Chisholm (pictured right), Ronald Frashure, Charles Wang (pictured left), Harindra de Silva, and more.
Fund: SEI Instl Mgd Global Mgd Volatility A (SVTAX)

2009 Annual Return: +3.89%

YTD: +2.26%

The S&P 500 YTD: 3.6%

Top 5 holdings: SEI Daily Income Prime Obligation A, C.R. Bard, Inc., Wal-Mart Stores, Inc., Novo Nordisk A/S, and General Mills, Inc.

Source: Morningstar

4. Janet Brown (pictured left), Jason Browne, Bernard W. Burke, Martin DeVault, and Sean McKeon (pictured right)
4. Janet Brown (pictured left), Jason Browne, Bernard W. Burke, Martin DeVault, and Sean McKeon (pictured right)
Fund: FundX Tactical Upgrader (TACTX)

2009 Annual Return: +2.86%

YTD: +0.13%

The S&P 500 YTD: 3.6%

Top 5 holdings: AIM STIT Treasury Instl, iShares Russell 1000 Growth Index, iShares MSCI Emerging Markets Index, and Rydex S&P Equal Weight.

Source: Morningstar

3. Thomas Hancock, Ben Inker, Sam Wilderman
3. Thomas Hancock, Ben Inker, Sam Wilderman
Fund: GMO Flexible Equities III (GFFEX)

2009 Annual Return: -10.03%

YTD: +3.42%

The S&P 500 YTD: 3.6%

Top 5 holdings: NIPPON TELEGRAPH AND TELEPHONE CORP., Orix Corp, Mitsubishi Ufj Financial Group, Inc., Seven & I Holdings Co., Ltd., and Sumitomo Electric Industries.

Source: Morningstar


2. Rajendra Prasad
2. Rajendra Prasad
Fund: Prasad Growth (PRGRX)

2009 Annual Return: -12.29%

YTD: -12.76%

The S&P 500 YTD: 3.6%

Top 5 holdings: Direxion Daily Small Cap Bear 3X Shares, Direxion Daily Emrg Mkts Bear 3X Shares, China Natural Resources, Inc., Kodiak Oil & Gas Corp., and STEC, Inc.

Source: Morningstar


1. Barry Ziskin
1. Barry Ziskin
Fund: Z Seven (ZSEVX)

2009 Annual Return: -31.34%

YTD: -10.87%

The S&P 500 YTD: 3.6%

Top 5 holdings: Chocoladefabriken Lindt & Spruengli Ag, Kilchberg, Rathbone Brothers PLC, PetMed Express, Inc., Cognizant Technology Solutions Corporation A, and UCB.

Source: Morningstar

Disclosure: No positions.

Original post

Source: The 15 Worst Stock Fund Managers of 2009