No one's an expert in hindsight. We've known how hard active management is for years. The data continues to show that as time goes it's harder and harder for active managers to beat the market. Some certainly will, but none of us have any idea who the best will be and how long before survivorship catches up with them. When it's based on a guru like Hamish, the risk is even higher of a blow up because it's resting on one guy.
You're having a weird moment when you're huffing and puffing and trying to boast about being a man and losing money and being the guy with skin in the game, over the people who've looked at the data and accepted what's possible and gone with the odds. Who cares about being a man, the game is getting a return over the long term. Average beats most people, because most don't even get index returns.
MFG Price at posting:
$10.67 Sentiment: None Disclosure: Not Held
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