Market Philosophy and Mutual Funds

[J_V]

Before I start, I'd like to begin with a disclaimer that while I have a bachelor's in Finance, I learned a lot more about poker in college, than I did about anything else. I am a punter, when it comes to the details of the market.

That said, I am looking to invest a good portion of my overall net wealth within the next few months. I am hoping someone here would help me. I need to find something in line with my financial goals and my overall market view.

I do not believe the market is particularly efficient. In college, I held pretty firmly to the Random Walk Down Wall Street mentality (suprise, suprise) of market efficiency, however, I no longer believe in such efficiency. I believe there are people capable of beating the markets. Most importantly, however, I believe these people are few, and I certainly am not one of them. I agree with Ray Zee, on most of his market views, and believe the average person should be happy with a captured edge of something a little more than inflation. Thus, I am not looking to become rich in the market.

I am looking to invest in a well-diversified mutual fund, capable of withstanding most market conditions with low management fees (if such a thing exists). I would like to do this myself, but I think it might be too time consuming and I'm not sure I could be confident in my end result. Heaven forbid, I have to do beta calculations again.

Does anyone know how I might go about choosing a mutual fund and/or does anyone have any recommendations for me?Feel free to comment on any part of my post that may seem in err. I would appreciate all advice.

JV