“Star-struck investors have too often equated enormous financial
success amongst managers with high returns for clients…Faulty or weak
analysis, performance chasing, shortage of skepticism, and a desire to
be associated with winners without proper regard for terms have all
caused the sorry result.”
Simon Lack from The Hedge fund Mirage
No one wants to make mistakes, so clients will often choose the biggest managers who have had success displayed in the news. This can be a significant hindrance to success.
No comments:
Post a Comment