In the News

Title

Swedroe: Don’t Buy Winners

Document Type

Article

Publication Date

2-19-2016

Abstract

For almost five decades, the literature on the investment performance of mutual funds has found that very few managers possess sufficient stock-picking or market-timing talent to allow them to consistently and reliably produce positive risk-adjusted performance after considering their fees. In other words, there’s little to no evidence of outperformance beyond the randomly expected.