Re: Evaluating Managed Funds
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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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Well I dont know for certain that he is, but yearly re-allocations with MFs really isn't a bad idea for normal investors. For instance, I sold down my emerging markets exposure this January b/c the funds did so well last year, from an asset allocation POV it didnt make sense to stay long EMs as much as I was.
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