Re: First Portfolio
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It's pretty much THE fund to own
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Do you not see the inherent problem with this? Actually problems.
1) The better your historical performance has been the more likely it is your current holdings are overvalued.
2) The better your historical performance is the more money you're going to have under management. Managing larger amounts of money is an undeniable structural advantage. If you gave the best money manager in the world $10M and had him manage it forever, and you could do this on enough trials to get meaningful results, his return would decline over time.
3) Buying "THE [security of your choice] to own" is probably a pretty bad plan in general. This goes back to pretty basic supply/demand as well as the point in #2.
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