In updating the graphic for the companion investment website Iacono Research at the conclusion of the second quarter the other day, I couldn’t help but notice that the last decade’s best performing mutual fund, Ken Heebner’s CGM Focus (CGMFX), didn’t do so well and the model portfolio at Iacono Research is now back out in front.

You can see why the Pimco Total Return fund (PTTRX) has become so popular in recent years – slow and steady seems to have won them a lot of new clients despite the four percent front-end loads. Of course, the real lesson in the performance data above might be that simpler is better – if you had only sold your stocks and bought dumb ‘ol gold coins back in 2000, you’d be far, far ahead of just about any other investment on the planet.

For Iacono Research subscription details (where fees are far lower than Pimco’s), click here.

Full Disclosure: Long the model portfolio at time of writing.