Originally Posted by AriGold
^ true story bro. anyways noone can sustain above average gains for a 10 year period right? 90% of fund managers don't beat the market?
I pulled those stats out of my asshole but i've heard many things like that.
and 90% of statistics that are pulled out of assholes just happen to be true, right?
In aggregate, investors are
the market, so of course 100%
of investors under-perform the market on average
. At least, the dollar wtd. avg. of their returns net of fees always under-performs the gross returns of the entire stock market.
But that doesn't have anything to do with whether it is possible to outperform with active management, much less suggest that no public security is ever undervalued.