I don’t even know what to say. Wouldn’t a story about AlphaClone be much more interesting? Like, say, how following Greenlight beats the market by 13% a year? Active mutual funds are an enormous fail for the investor.
My favorite stat:
CGMFX 10 yr annualized 19.59% returns. 10 yr annualized INVESTOR returns -13.94%!!! (Note: This is Heebner’s fund, not Miller’s, and reflects investors chasing performance buying high and selling low.)
Off to take Momma to this!