Inconsistent Performance Path

Everyone has heard of the study, which was collected when the monkeys throwing darts at stocks on the financial part of the Wall Street Journal, the fund managers would win money. Infamous study showed that the monkeys were better at collecting stocks of professional managers.

This result is consistent with other studies showing that mutual funds, for the most part is not well at least not beat the market. Only about 20% of fund managers seem to be able to beat the market. The only problem is that people in the top 20% of leadership changes every year.