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Chart of the Day: Sell Your Winners AND Your Losers

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer Jun 29, 2023
bar chart representing different fund sizes and random

Contents

Today’s Chart of the Day comes from Craig Lazzara's article “Persistently Disappointing.” It asks if top fund managers outperform due to skill or good luck. In EVERY fund category and over EVERY time frame, it was found to simply be good luck. To make this fact even more disturbing, top managers had an even worse chance of repeating their success going forward.

This can be attributed to the “mean reversion" theory, but that is another discussion for another day.

In summary, “In the end, you are better off not even playing the game [of trying to pick top managers]," so "sell your winners and your losers, and simply invest in the index.”
Chart of the Day

About the Author

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer
Samuel A. Kiburz, Senior Vice President, Chief Investment Officer

Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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