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M*: The Paradox Of Skill Isn't Stock-Fund Managers' Only Problem

TedTed
in The Bullpen
FYI: Michael Mauboussin of BlueMountain Capital Management released a paper about bond management, "Looking for Easy Games in Bonds." Tuesday's column will discuss Mauboussin's fixed-income claims. Today's article, however, addresses the single chart that Mauboussin devotes to stock funds, which demonstrates that active U.S. equity-fund managers have been torpedoed by the paradox of skill.
Regards,
Ted
https://www.morningstar.com/articles/924215/the-paradox-of-skill-isnt-stockfund-managers-only-.html
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