By Tom Bradley

The 2009 Lipper Awards have been announced and the ads and emails have started.  There will be a rush of fund firms announcing the loot they've collected.

Last year we had some fun with our industry's 'silly season'.  We announced our own LIPPY Awards.  This year, we'll hold back a little on our comments:

• There isn't anything more ridiculous than giving an award for 'One Year' performance.  I'm embarrassed to be part of an industry that would tolerate this.
• One-year performance is about as random as you can get.  To give an award, accept one, or advertise it is a travesty.  To acknowledge one-year anything, and attribute skill to it, eats into the credibility of our profession.
• I implore the investment professionals at the mega-fund companies to do something about this.  Don't bring your firm and industry down to such a low level.  Act like investors, not bad salesmen.
• Go down the hall to your marketing department and tell them to STOP. Don't let them do the newspaper ads and emails to advisors pronouncing you've won a one-year award for your fund.  Then go back to your office and call Thomson Reuters and tell them you refuse to accept the award.