What you're beginning to see is a restoration of investor confidence after two tough years.

When the market is going up, people don't assume risk. You have to realize the type of investments that appreciate in excess can be just as volatile on the downside.

You really must look at your entire portfolio and not look just at the past quarter or even the last year. Extraordinary expectations have been built into fund performance for almost six years now. You've witnessed returns of 20 percent or more in most stock equity funds, but in some cases they're just not sustainable.

That shouldn't be a driving reason to invest in a new fund. It's appealing, but only after making your decision.

I think everyone in the industry realizes the potential here. It would be an enormous boost.

There's no question investors are swayed by personalities. It's propelled mutual fund managers into the ranks of rock stars.