Vanguard Report: Active Fund Managers Strike Out (Again)

Vanguard Report: Active Fund Managers Strike Out (Again)

In a recent two-part series of posts, “Investment Hindsight is 20/20,” we covered Dimensional Fund Advisors research that explored the hard evidence on how squishy past performance has been as a predictor of future success for individual mutual funds. Dimensional demonstrated how that
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Investment Hindsight is 20/20: But Where Does That Get You? PART 2

Investment Hindsight is 20/20: But Where Does That Get You? PART 2

Part 2: The Strong Survive, the Cheap Thrive “The gutters of Wall Street are strewn with the bodies of people who looked good for five years.” — Martin Whitman As covered in our last blog post, “Investment Hindsight Is 20/20, Part 1,” we provided evidence from a recent Dimensional Fun
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Investment Hindsight is 20/20: But Where Does That Get You?

Investment Hindsight is 20/20: But Where Does That Get You?

PART 1: Past Performance Is (Still) No Guarantee “For time will teach thee soon the truth. There are no birds in last year’s nest.” — Henry Wadsworth Longfellow Is there an investor alive who hasn’t heard or seen the ubiquitous disclaimer that past fund performance does not predict fu
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