In first quarter, Dow gains 8.1%, Nasdaq Composite up nearly 19% and S&P 500 gains 12%.
This is why I always advocate investing in no-load index funds. And if you include dividends, the gain is even more. While this kind of performance most like won't repeat anytime soon, in my opinion, over a long period of time, it should beat most actively managed funds. Index funds are tax efficient too. They generally do not pay any capital gains dividends; therefore, the carrying cost is very low.
Warren Buffet is currently having a $1 million bet with some hedge fund managers that the S&P 500 will grow better than any of the hedge funds over a ten year period. See http://finance.fortune.cnn.com/2012/03/21/warren-buffett-hedge-fund-bet/
