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> The person running your investments can make or break you How would one propose to distinguish* someone who will deliver growth for - say - 25 consecutive ye
by logifail 7y ago
> The person running your investments can make or break you
How would one propose to distinguish* someone who will deliver growth for - say - 25 consecutive years from someone who delivers growth for 5 years yet blows up your endowment in year 6 ?
* beforehand ;)
- WalterBright 7y agoTheir track record.
- logifail 7y ago> Their track record If you think that "25 years of not blowing up" is a sure-fire way to predict the risk of blowing up in year 26, I would recommend reading Nassim Nicholas Taleb.
- WalterBright 7y agoI never said "sure-fire" or anything like it. Anyone who believes in "sure-fire" investments is a fool. The theory that people with lots of money to hire the best are fools doesn't seem credible to me. Besides, Warren Buffet has a stellar track record much longer than 25 years. People paying him to manage their money has made him very, very rich and those people very happy with him.