So long as predictions remain popular, and are so numerous as they are today – and so long as they receive notoriety through repetition in the press and on the radio – contrary opinions will increase in importance as thinking aids. “
December 12, 2018
For the past decade, the overwhelming and universally accepted narrative in the investment world has been, “no one can beat the market due to the 1% management fee.” Nothing could be further from the truth. The real cause of active management underperformance has been the high, and historically unusual, degree of stock market correlation. It...