Re: Did Sklansky say he Could have won a Nobel?
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So what you're trying to say is in the stock market there is...
0.000001% winners
99.999999% losers
This makes perfect sense.
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There was a survey a while back, about investment trusts performance from 1975-1995, they worked out that 10 of 375 had outperformed from 1975-85, and of those 10 only 1 still was outperforming in 1995. It was admitted by the researchers that the main reason for this was because of the way performance is evaluated in the Financial Services industry is very short term, and in trying to stay comparable to competitors funds had much higher turnover and thus higher costs than would be desirable and most funds were very similar in their core holdings.
Mack
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