Active Managers are Getting Clobbered

[rocketdog]

Nothing new here, just further confirmation of what so many other studies have shown:

http://finance.yahoo.com/news/sorry-sto ... 12651.html

[craigr]

That can't be true because active managers are all above average! They're all winners!

[rocketdog]

That can't be true because active managers are all above average! They're all winners!

Only the managers in Lake Wobegon. 

[sophie]

Not if you have the right mindset and pick the right stocks, Steinmetz said.

"Stock picking is always going to be the way to get superior returns if you focus on picking great companies," he said.

This is what you call a circular argument of very small radius 

[dualstow]

Not if you have the right mindset and pick the right stocks, Steinmetz said.

"Stock picking is always going to be the way to get superior returns if you focus on picking great companies," he said.

This is what you call a circular argument of very small radius 

It reminds me of the Will Rogers quote. "Only buy stocks that are going to go up. If they don't go up, don't buy'em." Except that Steinmetz isn't trying to be facetious. ;-)