Re: Evaluating Managed Funds
Yeah, those are all good points (except I would say Mr. Buffett should not be considered "wrong" just b/c his long-term trade fluctuated against him during calendar 2005).
I thought our assumed horizon was long-term. I had no idea that the following quote was true, and--if it is--then I would like to encourage Ed to reconsider:
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Ed ... is looking to make yearly re-allocations.
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