FYI: The Easier Route
"Looking for Easy Games in Bonds," published last week by Michael Mauboussin of Blue Mountain Capital Management, posits that taxable bond-fund managers are fortunate. Whereas the Paradox of Skill has eroded equity-fund managers' opportunities, by raising the level of competition so that few active investors can succeed, the bond market has been kinder. Its professionals enjoy prospects that stock-fund managers do not.
Mauboussin supports his claim both directly and indirectly.
Regards,
Ted
https://www.morningstar.com/articles/924591/bondfund-managers-enjoy-a-happier-hunting-ground.html
