Ep4 "Making Bad Investments Profitable" with Pete Briger
All Else Equal: Making Better Decisions
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Why You Shouldn't Hire a Money Manager
If you have to manage a larger fund, managing a larger amount of money is tougher than managing a smaller amount of money. As an investment manager, you implement your best ideas first and gradually, as you get more money, you start to revert to worse and worse ideas that deliver lower and lower returns. The return to investors of those marriages is no different tot return they would earn in the vanguard fund tan invest in old stocks. On average, absolutely so.
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