Chris Mayer is winging his way to Australia with a few select subscribers as we write… but we suspect he’d chuckle at this news: 97% of all stock mutual funds are down from where they stood at the beginning of 2008. According to Morningstar, the average stock fund rose 35% last year… but that wasn’t nearly [...] The Mutual Fund Money Hole originally appeared in the Daily Reckoning . The Daily Reckoning, a FREE daily e-letter, offers a "uniquely refreshing" perspective on the global economy, investing, and today's markets.