Hulbert Financial Digest, which has been tracking the recommendations of investment newsletters for 21 years, has issued its latest rankings of the best and worst performances of 2002.

We talk to potential new clients all the time, people who agree with our ideas about diversification, people who like the way we manage money. But many of them don’t want to commit. They want to stay in cash, or wherever else they are currently invested, until they are sure the market is going up again.