Articles (3)

Manager selection is a process that requires analyzing noisy performance data, so it should lean heavily on the notion of statistical ...Read More

Caution: Technical Discussion to Follow—READ AT YOUR OWN RISK. As the old saying goes, there are three kinds of lies: lies, damned lies, and statistics. It is true data can be tortured with statistical tools that will make it confess to almost anything. On the other hand, ...Read More

Recently, we received a question from a client that we will paraphrase as follows: “While I know that the returns I have gotten from index funds have beaten the majority of active managers, would I not have been better off in funds like the Fairholme Fund (FAIRX) or the ...Read More