How To Pick An Actively Managed Mutual Fund

[Editor’s Note: This is a lengthy guest post by a long-time reader who would like to remain anonymous. I have included a lengthy comment at the end and wrote on a similar topic a few days ago. We have no financial relationship.]
What do you do if you love your job but are stuck with a lousy 401(k)? Perhaps the 401(k) has high expense ratios, no decent index fund options, and a poor selection of funds.
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