One of the deadly sins of investing is chasing performance. Investors piled into technology funds just as the tech bubble was bursting. A column in today’s Report on Business points out that mutual fund investors tend to make precisely the wrong investment at the wrong time. Currently, the best-selling mutual funds are all income-oriented, while US and international equity funds are experiencing massive redemptions. The column points out that Enbridge (TSX: ENB), an utility, is selling for 21 times earnings, while such names as Cisco (CSCO), Pepsi (PEP), Colgate-Palmolive (CL) and Wal-Mart (WMT) are selling for less. Almost everyone is now chasing yield.