Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: seventh_son who wrote (30618)	5/23/2005 11:26:48 AM
From: zonder	Read Replies (1) of 116555

It doesn't quite work that way. Money managers/fund managers are worth zip in the market if they don't have a track record. By that, I mean they will not be hired for anything above assistant manager because they can't raise money if they don't have several years of good performance. That is actually incentive to NOT take risks and take it easy after the first couple of years of aggressive risk taking, where you have nothing to lose and only hope to establish a good track record. After that, you are scared to ruin the beautiful picture, and trade on the safe side of things. In fact, if you look at hedge funds, they have about a five year period in which to make really good returns - the manager is hungry and is working hard. After that, he has made his money and is probably paying more attention to beaches and golf courses than keeping 24/7 watch over your money.

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