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Many thanks for the SPIVA reference. It was a reminder of days past.
Not many years ago I eagerly awaited the SPIVA reports. Not so much so these days. I became weary of the same old, same old performance persistency registered by the active mutual fund manager community. The percentages changed a little and the categories morphed a little, but the basic story was always consistent.
Active fund managers find their benchmark Index just too great a challenge to beat. That's the persistent statistical story over decades. The current SPIVA releases document that seemingly never ending storyline. Typically 80% to 90% of active fund managers stumble below their benchmark targets.
As a result of the consistency of the SPIVA findings, I stopped reading their reports. They seemed redundant and almost interchangeable. Your reference documents that the active fund manager performance has not changed much over time. It remains in the dismal class with few exceptions.
Thanks again for this reference and the countless others that you graciously provide. You are the glue that holds this discussion board together.
Comments
Many thanks for the SPIVA reference. It was a reminder of days past.
Not many years ago I eagerly awaited the SPIVA reports. Not so much so these days. I became weary of the same old, same old performance persistency registered by the active mutual fund manager community. The percentages changed a little and the categories morphed a little, but the basic story was always consistent.
Active fund managers find their benchmark Index just too great a challenge to beat. That's the persistent statistical story over decades. The current SPIVA releases document that seemingly never ending storyline. Typically 80% to 90% of active fund managers stumble below their benchmark targets.
As a result of the consistency of the SPIVA findings, I stopped reading their reports. They seemed redundant and almost interchangeable. Your reference documents that the active fund manager performance has not changed much over time. It remains in the dismal class with few exceptions.
Thanks again for this reference and the countless others that you graciously provide. You are the glue that holds this discussion board together.
Best Wishes