The Ignorant Investor

Via today's Wall Street Journal:

As investors pour cash into mutual funds that focus on small companies, money managers are facing an unexpected headache: They don't know what to do with all the money in their funds because there aren't enough promising small companies.

The result is a growth spurt in a relatively new class of funds -- "smid" funds, so named because they invest in small and midsize companies. They number only a few dozen so far, but half were launched in the past five years and more are expected, industry watchers say.

Worth noting: One of the traditional signs of soon-to-fall market sector is the rush to create new mutual funds targeting the successful sector.