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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: carranza2 who wrote (83843)5/1/2007 2:06:31 PM
From: chowder  Read Replies (1) of 206334
 
>>> i don't think it's possible to "prove" investor skill in a statistically significant sense, <<<

This is where I disagree with his comment.

Although a lot of fund managers and others take satisfaction in a bear market of losing less than the indices (example, only down 10% while the market is down 25%), real skill comes to the table by showing long term market beating averages. In other words, don't show me a profit by being in cash or bonds, show me a double digit yearly gain in a bear market. That would take skill, IMO.

It's not what you do when things are going well. It's what you do when they aren't, where skill comes into play.
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