Easier said than done in this market with an 8% inflation on one hand and a crashing market on the other. A fund manager can be deemed successful if they outperform the market by 20% yet still be in negative territory, no?
Career-wise, certainly he will be deemed successful by his peers. But to the client, it's still no consolation if he loses 10%.
%% Looks like less that 50% did in 2009; looks like> 50% the full time pros did beat the bench mark , as an average, on his chart. But something else adding to complexity\ in 10 years only about the same 1or 2% did