[cwsiggy]

If these minds are as smart as you think they are, then they will realize that you can not beat the general market index in the long run. This has been proven time and time again. Two professors from Princeton I believe ran a study and concluded that the entire universe of mutual funds(you can substitute hedge fund in here also) underperformed the market by 1.4 % over a thirty year period. They even took into account fund closures, mergers, etc. Can you guess what the 1.4% average underperformace represents? Yep - that was the average fund expense ratio!!! Thus fund managers add no value whatsoever! Sklansky and the rest of the two plus two "brilliant" minds may know poker and a lot of other things, but you are basically wasting your time trying to beat the market. Yes - there may be a few exceptions you can count on one hand: Julian Robertson, Soros, Buffett, Michael Steinhardt, but you're better off just buying spyders and playing more poker my friend.