Abstract
If a manager has an outstanding track record, how can we tell how much this past success is due to luck versus skill? The complex nature of active portfolio management makes this assessment very difficult. This article provides a conceptual framework for thinking about this issue. A meaningful track record should reflect a significant number of investment decisions. It is not sufficient to simply outperform over what might appear to be a significant time horizon.
- © 2002 Pageant Media Ltd
Don’t have access? Click here to request a demo
Alternatively, Call a member of the team to discuss membership options
US and Overseas: +1 646-931-9045
UK: 0207 139 1600
Log in using your username and password
In this issue
Luck versus Skill
Jump to section
Similar Articles
Cited By...
- No citing articles found.