FYI: For two decades, Wilson Sy produced some of the world’s biggest stock-market gains by betting on lesser-known companies outside his benchmark index.
Now, the Philippine money manager says his strategy has been upended by the flood of cash into passive investment funds -- and that more stock pickers in bigger markets could face similar challenges.
After steering his flagship mutual fund to a more than 2,600% return in the two decades through 2014 -- trouncing both the Philippine market and the vast majority of equity funds globally -- Sy’s epic run has fizzled: He’s up just 4% over the past five years, trailing a 19% total return in the Philippine Stock Exchange Index.
Regards,
Ted
https://www.fa-mag.com/news/his-stock-picks-soared-2-600---then-the-index-funds-arrived-52339.html?print
