Probably managing a mutual fund would prove far more frustrating than my "dream" of it!
Tom,
And anyone else, for that matter - if you'd like to have a go at doing just that with running a virtual mutual fund, check out marketocracy at http://marketocracy.com With a free registration you can set up and manage your own mutual funds. They also have you work within constraints as real-world fund managers have to contend with. Further the best ideas are incorporated into a fund that they actually run.