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Only the managers in Lake Wobegon.craigr wrote: That can't be true because active managers are all above average! They're all winners!
This is what you call a circular argument of very small radiusNot 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.
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. ;-)sophie wrote:This is what you call a circular argument of very small radiusNot 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.