Today, Slate runs an article explaining that the S&P 500 is managed by incompetents. The warning signs have been around for awhile, I remember reading an article awhile back about the fact that the S&P 500 was doing too much trading and replacing too many companies. Sadly a big chunk of my 401k is tied up in an S&P 500 index fund, so I’ve really taken a beating there. Even so, I prefer it to a standard managed fund. All things considered, though, I wish my employer offered this fund.