Sometimes fame doesn’t live up to its hype. Legendary value manager Bill Miller always said that his fund only beat the S&P 500 for so many years in a row because of calendar bias: his performance was calculated at the end of every year. Had it been calculated at mid-year, then his numbers might not have looked so favourable.
Research & advisor resources
- Filling strategic gaps with index funds
- Decrease risk and lower cost using
- The dual benefits of index funds
- Smart beta—tilts, bets and active strategies
- Passive investing’s role at the core of