Holiday Colors

Investment professionals and financial commentators are not immune.
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Private Persistence That Just Ain’t So?

Do some private investment presentations overstate the performance persistence of top funds?
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Who Is Passive?

Which strategy would you call active versus passive?
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Who Is Active?

Here’s my story.
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Why We Don’t Make Forecasts

How many times did the Wall Street consensus predict a market drop? "A spectacular zero."
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The Normal

Normal is the market going up and down in a manner that can be unnerving over short-term periods.
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