Joe Wiggins, "The Intelligent Fund Investor: Practical Steps for Better Results in Active and Passive Funds" (Harriman House, 2022)
New Books in Economics
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Are You Making a Decision to Walk Away From a Fund?
You need to be aware if you're investing in a very high conviction active fund that performance will be cyclical, it will go through really difficult periods. So much money is left on the table or could be preserved if they had a cell discipline to get out of a stock just like they had one going in. The key issues around selling is, are they still acting in a way that's consistent with what I expected from that process? Are they buying the types of companies in the types of size, with the types of characteristics that I would expect them to do? If they're doing very different things, so buying high growth companies, expensive companies, their beliefs are about valuation opportunities and discounted
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