On Monday I ranted a bit about benchmarking and how it turns businesses and asset managers into mediocre performers. The argument I often hear in favour of benchmarking is that it limits underperformance and the damage done by inferior managers. On the other hand, in recent years, the evidence has mounted that fund managers generate their performance
JK - I am interested to learn what you think of this take on "high conviction" (concentrated) portfolios. Best, Pete
https://www.spglobal.com/spdji/en/documents/research/research-fooled-by-conviction.pdf