This seems to be a reasonable performance metric for an
equity fund manager. Of course, if you DO manage to turn a
profit in a brutal bear market while running a long fund, that would
be outstanding, but it's very hard. Most pros have to follow
what's written in their fund prospectus, otherwise they may
and will get sued for losses. So, I agree with Dale here.
Hedge funds performance, too, is varied by category and
compared to peers. It's another reasonable way. It's not
your fault that if your prospectus says you invest in,
say, China, and China fell, then you lost some money.
Thus, even spoos may not be a reasonable metric. Your
category of funds would be. |
