While mutual fund firms asked investors to look the other way when it came to performance during the bear market, some fund companies are now treading in dangerous territory following the market's recent rally, by promoting their year-to-date performance.

This trend is disturbing to those who feel the promotions are contrary to the lessons learned by the industry in the wake of the bubble bursting in 2000. Others feel it is just too soon following what might, or might not, be a recovery for firms to be touting performance numbers again.

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