Step 5: Manager Pickers in Under a Minute

Monday, October 11, 2021 3,647 views

Mark Hebner explains that active investors unnecessarily increase their risk, expenses, taxes, and anxiety. Numerous studies have shown actively managed investments generally carry more risk and lower returns than globally diversified, risk-appropriate index portfolios. Despite this fact, investors frequently fall prey to the allure of past winners, hiring the hottest new fund managers only to fire them later because their past performance doesn't persist in subsequent periods. Sometimes active managers can repeat their success several years in a row, but that success has rarely lasted. In short, yesterday's returns are not for sale.

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