For years I have been saying you must have a fund that is outperforming the S&P500 Index. Well, I've changed my mind. Now I think your fund should be outperforming the NASDAQ Composite Index. So far this year, March 30, the S&P is up 1.3% and the NASDAQ Composite is up 9.5 %.

Have you checked your mutual funds for their performance so far this year? I don't know how important your money is to you, but it is important enough for me to check out my funds at the end of each month. I live off that income. Some day you may be doing the same so now is the time to start tracking those returns.

For almost the last 20 years I have bought nothing but no-load mutual funds. There is absolutely no correlation that a fund performs better if you pay commissions. The only one who profits here is the broker, not you. In fact with an 8 1/2% front-end load you actually start 9 1/4% in the hole. Many no-load funds can be purchased at discount brokers for no commission at all. The call these NTF funds - No Transaction Fees. This is a great bargain that every investor should take advantage of.

One of the things I have been preaching for years and I have not changed my mind about this is the funds you own should be the best performers available. My definition of best performer is that you should only buy a no-load fund that has the greatest increase in NAV (Net Asset Value) for the past 6 or 12 months. Your broker is definitely not going to tell you about these. You can find them yourself .

Look in Mutual Fund Section of Investor's Business Daily newspaper. Usually about once a week they publish a list of 25 mutual funds with their performance record for the past 6 or 12 months. If you are going use this indicator then buy the top one, two or three and only check them out once each month to see that they remain on the list. If your fund drops below 15th or 20th or completely out of the list you will then sell it and buy the fund that is at the top.

If you have a computer you may check out www.smartmoney.com as they list the top 25 performing funds. I would not buy one unless it has been on the market for at least a year. You may use the same sell strategy as the IBD above.

In real estate the smart strategy is to buy right. In the stock market the smart strategy is to sell right. If you follow this plan during a bull market you will make 2 or 3 times the increase of the S&P or NASDAQ Composite.

If you are willing to look at your mutual funds once each month for about 10 minutes you will be able to outperform 99% of the returns of financial planners, brokers or bankers. Is it worth it to choose your own funds? You have to answer that.