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The saga of underperforming active mgt continues...
Posted on 10/16/09 at 5:33 pm
Posted on 10/16/09 at 5:33 pm
Morningstar star study, Active versus indexed style
A whopping 37% of active management met or exceed their respective indexed benchmarks over the past 3-years. Woo hoo, where is all that Alpha active management generates for unsuspecting retail investors? Many better performing winners had large cash positions, shocking. I assume this is before taxes as well.
A whopping 37% of active management met or exceed their respective indexed benchmarks over the past 3-years. Woo hoo, where is all that Alpha active management generates for unsuspecting retail investors? Many better performing winners had large cash positions, shocking. I assume this is before taxes as well.
4
Posted on 10/16/09 at 5:53 pm to tirebiter
quote:All mutual fund data is reported pre-tax to the shareholders.
I assume this is before taxes as well.
Posted on 10/16/09 at 5:55 pm to tirebiter
You morons just don't get it. Licensed financial professionals can predict beforehand which funds will do well and which ones won't. They have pamphlets and everything.
Posted on 10/16/09 at 6:01 pm to Cold Cous Cous
Well done.Posted on 10/16/09 at 6:04 pm to LSURussian
Yeah, my point was with turnover in the funds it would make the performance worse. It is a good report with holdings adjusted for size/style instead of the usual garbage of comparing a multi-asset active fund to the SPX.
Posted on 10/16/09 at 6:06 pm to Cold Cous Cous
quote:
You morons just don't get it. Licensed financial professionals can predict beforehand which funds will do well and which ones won't. They have pamphlets and everything.
So they say.
Posted on 10/16/09 at 7:02 pm to tirebiter
quote:That's actually higher than I would have expected.
A whopping 37%
Posted on 10/16/09 at 9:28 pm to Cold Cous Cous
quote:
They have pamphlets and everything.
Well damn. If they'd just not send me the pamphlets and rebate the cost of mailing I'd be fine with that.
Posted on 10/17/09 at 12:42 pm to coolpapaboze
Not really with the mega bear market if the managers had any skill coming out. I would expect much lower performance measured in the next 5 & 10 year cumulative aggregate, probably back down to 20% or lower. The cash holdings saved many of them on the downslope as well.
Posted on 10/17/09 at 10:06 pm to tirebiter
quote:
A whopping 37% of active management met or exceed their respective indexed benchmarks over the past 3-years.
Good thing I do all of my investing based on the advice of the MT sages.
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