Grandich Tidbits

Posted by on October 16, 2015 - 8:17 am


“If you were in need of surgery to save your life, would you allow a doctor to operate on you who failed 80 percent of the time compared to his or her peers?  If you found yourself in legal trouble, would you want an attorney who failed to achieve what 80 percent of other attorneys managed to obtain for their clients?  If you said yes, stop reading now.  If you said no, I’ll share another tidbit: 80 percent of professional money managers failed to match the performance of simply putting money in a basic, low cost index fund.  Odds are good that your investment funds are being managed by the 80 percent—not the 20 percent.  Before you run to find one of the 20-percenters, know that in all likelihood their “winning streak” will soon end like mine did, and they will join the 80-percenters going forward.”  From Chapter 17 of the third edition of Confessions of a Former Wall Street Whiz Kid.”

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