Tuesday, 10 May 2016

Invest in a team and not a star

Even if you’re smart or lucky enough to find that rare stock picker who can consistently beat the market over time, there’s a good chance he will be gone before the long run comes around. The average number of years that an active manager stays with a stock fund is just 5.7.
One simple solution: Stick with stellar funds run by disciplined committees, not a single manager.

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