In our opinion, a reliance on past investment performance could very well result in an investor falling short of his/her investment objectives. Without guidance, it is not uncommon for investors to purchase a mutual fund based on the fund’s past performance, resulting in the fund being purchased at a historically higher price. As the fund fluctuates, some investors lose patience and begin looking for a “better performing” fund to replace the first. Once the switch in funds is made, it could possibly result in the first fund being sold at a lower price than it was purchased.