In between storms of laughter the best investor who ever lived made a bet and then a bet money.
This rate has become a question that needs to be asked forever: what is the point of fund managers?
If stock collectors can’t surpass the index, why don’t we all keep an eye on the index and deprive these guys of their absurd salaries, their homes in Mauritius and everything else?
Our analysis today, made by Alan Miller, look at the website, is shocking. It’s not just that funds in almost every single sector, from North America to Japanese small companies to the UK, are losing money since Christmas.
(You would usually expect at least a few guys to call it right.)
This is what they are all below their benchmarks. So, whatever place you choose to invest, you would be better off just tracking that index than paying the voter a stock to try to be smart.
Highlight Terry Smith and Nick Train today, as they are the most famous – both are sometimes described as our best response to Buffett.
Probably a couple of them, whose long-term track record is excellent, will turn it around (on the train more pressure than on Smith – I’m an investor in FundSmith.)
And we hope that the future of many people depends on it
For wider trade, these numbers become inconvenient to read. They are short-lived.
This does not mask the fact that in the long run most funds in the city are a bad bet. Ask Warren Buffett.
Warren Buffett was right about the stock collectors – they mostly lose
Source link Warren Buffett was right about the stock collectors – they mostly lose