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The difference is that our ability to tell if Brady was a good football player 10 years ago doesn't depend on his results today. Whereas a fund manager can turn
by pedrocr 6y ago
The difference is that our ability to tell if Brady was a good football player 10 years ago doesn't depend on his results today. Whereas a fund manager can turn out to have had a bad strategy all along whose gains are only wiped out after many years of apparent good performance.
- deleted 6y ago[deleted]
- fractionalhare 6y agoHow many actual examples do you have of the same funds blowing up which outperformed for decades? Buffett outperformed SPY for most of his 60 year career. Do you think he doesn't know what he's doing, and it was all luck, just because Berkshire Hathaway isn't doing as well as it used to?