Lots of finance works this way. If the portfolio you manage is down, it might have been luck. But if it’s down a lot more than the market, you’ll be out of a job. No-one needs an unlucky portfolio manager.
If you’re trying to use luck to predict the future, you’re a bad portfolio manager, regardless of the performance of your portfolio.
Lots of finance works this way. If the portfolio you manage is down, it might have been luck. But if it’s down a lot more than the market, you’ll be out of a job. No-one needs an unlucky portfolio manager.
If you’re trying to use luck to predict the future, you’re a bad portfolio manager, regardless of the performance of your portfolio.