What's an ardent passive investor doing on a Magellan forum? haha.
Yes, active investment managers seem to have a good run, followed by the inevitable slump. Luckily for Hamish, the hundreds of millions found it's way to his bank account before the slump.
I often wonder why I persist with active management, knowing the depressing performance figures. Maybe we are all just really bad at reading statistics... because if we could we would all be in a broad based passive ETF.
Ann: Update on Hamish Douglass & David George commencement date, page-39
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