Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
For those of us who choose to go with active management for some or all MF investments, we are aware that not every year holds the same potential for returns, just as it does for passive management. Studies support the idea that active managers with more "active share" in their portfolios have a better chance of beating their benchmarks, over time, than closet indexers. But do we realize, in our heart of hearts, that the potential for outperformance from active share is not uniform YTY, and do we incorporate this in our buy and sell decisions?
